Philippine Stock Market Plummets Amidst US-Iran Conflict

Strategic Insights -

The Philippine stock market suffered significant losses at the beginning of the week as the United States' attack on Iranian nuclear facilities over the weekend caused oil supply shock jitters among investors. The Philippine Stock Exchange index (PSEi) plummeted by 1.92 percent, or 121.49 points, to 6,218.28, while the broader All Shares index nosedived by 1.44 percent or 54 points to settle at 3,706.56. The sharp decline in the market was attributed to concerns over a potential escalation of the Israel-Iran war and the impact on the global economy.

Key Takeaways:

  • The Philippine Stock Exchange index (PSEi) opened the week at a new low, down 1.92 percent or 121.49 points to 6,218.28, marking the third day of losses in four trading days.
  • The All Shares index also plummeted by 1.44 percent or 54 points to settle at 3,706.56, the lowest level in nearly two months since April 24, 2025.
  • The mining and oil index led the losses, plummeting by 3.48 percent due to the potential impact of the US-Iran conflict on oil supply.
  • The services index dropped by 2.56 percent, with all local counters closing in the red.
  • Foreigners were net buyers with net inflows of P108.27 million, but it was not enough to offset the significant losses.
  • Decliners outnumbered advancers 142 to 60, while 44 issues were unchanged.
  • DigiPlus was the top traded stock, shedding 7.59 percent to P53 per share, followed by Bloomberry Resorts and ICTSI which fell by 2.62 percent and 2.44 percent, respectively.
  • Meralco was one of the few index members to post gains, increasing by 0.83 percent to P546.

Statistics:

  • The PSEi dropped by 121.49 points or 1.92 percent to 6,218.28.
  • The All Shares index fell by 54 points or 1.44 percent to 3,706.56.
  • The mining and oil index plummeted by 3.48 percent.
  • The services index dropped by 2.56 percent.
  • Total value turnover reached P6.29 billion.
  • Foreigners posted net inflows of P108.27 million.
  • Decliners outnumbered advancers 142 to 60.
  • Unchanged issues totalled 44.
  • DigiPlus traded at P53 per share, down 7.59 percent.
  • Bloomberry Resorts traded at P5.20, down 2.62 percent.
  • ICTSI traded at P415.60, down 2.44 percent.
  • Meralco traded at P546, up 0.83 percent.

Sources:

  • AP Securities
  • RCBC chief economist Michael Ricafort
  • Philippine Stock Exchange index (PSEi)
  • All Shares index
  • Bloomberg (author not specified)