MANILA – The local stock market dropped on Tuesday as investors locked in gains from a brief two-day rally, while the peso closed little changed against the greenback.
The local bourse’s main index shed 0.73 percent to close at 5.701.54 points, while the broader All Shares index declined by 0.62 percent to 3.183.35 points.
All sectoral gauges finished in the red, led by Holding Firms and the Services, which both fell by 0.85 percent.
These were trailed by Financials, down by 0.80 percent; Property, 0.72 percent; Industrial, 0.54 percent; and Mining and Oil, 0.34 percent.
Volume reached 862.08 million shares amounting to PHP4.3 billion.
Decliners outnumbered advancers at 112 to 77, while 59 issues remained unchanged.
In a market report, Rizal Commercial Banking Corporation chief economist Michael Ricafort traced the PSEi’s decline to “healthy profit-taking” after a two-day rise.
He also attributed the drop partly to lower net inflows in the country’s foreign direct investments (FDI), which slipped to USD4.1 billion as of end-July this year against the USD5.35 billion recorded in the same period last year, alongside gains in U.S. equities markets.
Amid these factors, the local currency ended the day at 62.8 against the U.S. dollar, little changed from its 62.76 finish a day ago.
It opened the day at 62.75, weaker than its 62.65 start in the previous session.
It traded between 62.7 and 62.86, bringing the day’s average to 62.82.
Volume reached USD1.02 billion, slightly lower than the USD1.06 billion in the previous session.
Ricafort forecasts the peso to trade between 62.70 and 62.90 to a greenback on Wednesday. (PNA)
MIXED. Profit-taking resulted in the negative close of the Philippine Stock Exchange index on Tuesday (Oct. 13, 2026). However, the peso managed to end the day little changed against the U.S. dollar.
