The Philippine Stock Exchange index (PSEi) closed the week on a downbeat note Friday, tumbling back below the 6,000 mark as persistent peso weakness and concerns over slower economic growth dampened investor sentiment.
The benchmark index dropped 1.09 percent to 5,988.02, while the broader All Shares index also declined 0.81 percent to 3,608.11. All sectoral indices finished in negative territory, with Mining and Oil leading the retreat at -2.02 percent. The Financials followed with a 1.51 percent slide, Services lost 1.25 percent, Holding Firms slipped 0.82 percent, Industrials shed 0.67 percent, and Property eased 0.48 percent.
Trading volume reached 2.89 billion shares worth ₱26.28 billion, with decliners outnumbering advancers, 123 to 75, while 49 issues were unchanged.
“The market ended below the 6,000-mark as sellers took control of the session,” said Luis Limlingan, head of sales at Regina Capital Development Corporation. “The sustained depreciation of the peso continues to weigh on sentiment. Investors are also likely factoring in the anticipated downward revisions in GDP growth forecasts from various institutions.”
The peso closed weaker at 58.62 against the US dollar, slipping slightly from Thursday’s 58.61 finish. It opened at 58.55 and ranged between 58.71 and 58.55 throughout the day, averaging 58.63.
Dollar volume dropped to $1.39 billion from $1.68 billion in the previous session.
Analysts said the market may remain cautious in the near term as traders await key inflation and GDP data releases, alongside further signals from US Federal Reserve officials on the global interest rate outlook.