Philippine shares ended nearly unchanged on Friday as investors stayed cautious amid lingering uncertainty over the conflict in the Middle East, while the peso weakened further against the US dollar.
The benchmark Philippine Stock Exchange index inched up 0.14 percent, or 8.48 points, to close at 6,098.21. In contrast, the broader All Shares index slipped 0.19 percent to 3,408.53, reflecting the market’s generally subdued tone.
Trading remained tentative for most of the session, with investors choosing to stay on the sidelines as they weighed geopolitical risks, currency weakness, and the prospect of further inflation pressures.
Regina Capital Development Corporation head of sales Luis Limlingan said the market’s marginal gain masked a fragile level of confidence, as participants continued to closely watch developments surrounding the US-Iran ceasefire and their possible impact on broader sentiment.
He noted that many investors remained defensive and kept to short positions while assessing how geopolitical tensions and inflation risks could shape near-term market direction. The peso’s depreciation, he added, also contributed to the cautious mood.
Sectoral performance showed a mixed picture, with most indices ending in the red. Property stocks led the decline, falling 1.41 percent, followed by Industrials, which lost 0.64 percent, Holding Firms, down 0.39 percent, and Financials, which eased 0.09 percent. Bucking the trend were Services, which climbed 1.97 percent, and Mining and Oil, which rose 1.72 percent.
Market breadth remained almost evenly split, although decliners still edged out advancers, 102 to 100, while 66 issues were unchanged. Total traded volume reached 638.6 million shares, pointing to restrained participation as investors avoided making aggressive bets ahead of clearer signals from global developments.
Meanwhile, the peso closed at 59.97 to the dollar, weaker than Thursday’s 59.43 finish. The local currency opened at 59.75 and moved within a range of 59.65 to 60.00, averaging 59.77 for the session.
Dollar trading volume also fell sharply to $1.5 billion from $2.48 billion in the previous session, suggesting lighter activity in the foreign exchange market as traders stayed cautious.
With both equities and the currency market showing signs of strain, Friday’s session underscored the fragile mood gripping local financial markets, where investors remain wary of external shocks and reluctant to take on bigger risks.