Philippine shares staged a recovery on Thursday as investors returned to the market after the previous session’s decline, even as global uncertainty tied to tensions in the Middle East continued to stir volatility. Meanwhile, the peso weakened further against the US dollar, extending its losing streak to six consecutive trading days.”
The benchmark Philippine Stock Exchange index climbed 1.15 percent to close at 6,380.53, while the broader PSE All Shares Index rose 1.16 percent to 3,525.99, reflecting renewed buying interest across the market.
All sectoral gauges finished in positive territory, led by Mining and Oil, which surged 1.92 percent amid persistent concerns over global energy supply disruptions. The Services sector followed with a 1.87 percent gain, while Industrial advanced 1.32 percent. Financials rose 0.91 percent, Property added 0.71 percent, and Holding Firms edged up 0.43 percent.
Market activity remained moderate, with 1.91 billion shares changing hands for a total value of PHP6.3 billion. Advancers outpaced decliners, 125 to 72, while 59 stocks ended unchanged.
Despite the upbeat performance in equities, the Philippine peso continued to weaken against the US dollar. The local currency closed at 58.63 from Wednesday’s 58.57 finish, marking its sixth straight day of depreciation.
The peso opened the session slightly stronger at 58.40 compared with the previous day’s 58.50 start and even appreciated to an intraday high of 58.33. However, the currency later reversed course and slid to its closing level, with the day’s average exchange rate settling at 58.46.
Foreign exchange trading volume declined to USD1.57 billion from USD1.77 billion in the prior session, indicating somewhat lighter activity in the currency market.
Michael Ricafort, chief economist at Rizal Commercial Banking Corporation, said the peso’s movement was partly influenced by the latest inflation data, which showed domestic inflation accelerating to 2.4 percent in February 2026 from 2 percent in January.
While the increase reflects rising price pressures, Ricafort noted that inflation remains comfortably within the government’s target range of 2 to 4 percent for the year.
He added that the continuing conflict in the Middle East could pose additional risks to inflation in the months ahead, particularly if oil prices continue to climb. Higher fuel costs, he warned, could ripple through the economy by pushing up transportation expenses and the prices of other commodities.