Stocks fall on rising oil prices, record low peso

MANILA, Philippines — The local stock market tumbled amid concerns over rising oil prices, compounded by the peso plunging to a fresh record low.

The bellwether Philippine Stock Exchange index shed 0.61 percent or 37.42 points to close the week at 6,061.81.

The broader All Shares index also declined by 0.74 percent or 24.91 points, settling at 3,358.40.

Luis Limlingan of Regina Capital said the local bourse ended lower amid continued pressure from surging crude prices, with oil trading near $108 per barrel amid the US-Iran conflict.

“Elevated oil prices raised concerns about inflation and macroeconomic indicators, weighing on overall market sentiment,” Limlingan said.

“Meanwhile, the weaker local currency further encouraged investors to reduce risk exposure, keeping market pressure in place,” he said.

The peso weakened to a fresh record low of 62.68 against the dollar yesterday as higher oil prices, rising global bond yields and concerns over a prolonged war dampened investor appetite for risk.

The local currency shed 14.5 centavos from Thursday’s 62.535 finish, based on Bankers Association of the Philippines data. It also ended the week weaker than its previous record-low close of 62.625 on Sept. 8.

All sectors were in the red, except for property, which inched up by 0.004 percent. Mining and oil recorded the biggest drop at 3.27 percent, followed by financials, which fell by 1.58 percent.

Market breadth was negative as decliners squashed advancers, 144 to 51, while 54 issues were unchanged.

Net of extraordinary block sales, total turnover stood at P5.83 billion.

ICTSI was the session’s top traded stock, slipping by 0.20 percent to P985 per share, followed by BDO Unibank and First Gen, which plummeted by 2.54 percent and 11.90 percent, respectively, to P115.10 and P23.70.

abtestabtest DOE failure By Boo Chanco | 10 hours ago Pity Energy Secretary Sharon Garin. She is from Iloilo and like the rest of Visayas, Iloilo has been suffering from power failures reminiscent of the great blackouts of the Cory era. And Secretary Garin seems unable... Business Don’t bet against the house By Wilson Sy | 10 hours ago Last month, US support for the Japanese yen was described as “a signal of friendship. Business More economic pain coming By Marianne Go | 10 hours ago It has already been six months and counting, and worse — the US-Iran conflict appears to be escalating. Business Forex gains double BSP profit to P53.8 billion By Keisha Ta-Asan | 10 hours ago The Bangko Sentral ng Pilipinas (BSP) more than doubled its profit to P53.8 billion in the first two months of 2026 as higher... Business US firm expands hunt for native hydrogen in Philippines By Brix Lelis | 10 hours ago US-based Koloma Inc. wants to expand its search for native hydrogen resources beyond Zambales and Pangasinan, this time proposing to explore offshore Palawan. Business Latest More in Business Foreign debt climbs 5 percent to $154.9 billion in Q2 Ukraine bets on Philippines ube, other exports ‘Coal demand likely to keep steady pace’ Government suspends shipments of raw ube abtest Cebu shipping firm files P737 million IPO By Elijah Felice Rosales | 10 hours ago Cebu-based shipper Aznar Shipping Corp. has filed an initial public offering (IPO) of its stocks to raise up to P737 million... Business US Fed, peso at play for PSEi By Elijah Felice Rosales | 10 hours ago Investors will likely tread the week on a cautious note as they expect the US Federal Reserve to hike interest rates that... Business Villar firm denied Iloilo airport proposal, gov’t seeks other bids By Elijah Felice Rosales | 10 hours ago The government has denied the Villar Group its first airport project and would instead accept offers from other proponents in line with its direction to privatize the country’s gateways. Business PEZA eyes to beat P300 billion investment target this year By Louella Desiderio | 10 hours ago The Philippine Economic Zone Authority (PEZA) expects to surpass its P300-billion investment approvals target for the year,... Business Philippines to import higher percentage broken rice amid global uptick By Adrian Kenneth Halili | 10 hours ago The Philippines may face stiffer competition for broken rice imports, as higher demand from China and other importers are... Business Recommended New witnesses on Taguig infrastructure projects surface – Lacson 10 hours ago New witnesses have approached the Office of the Ombudsman to detail the delivery of “boxes of money” tied to anomalous... BusinessOMBUDSMANWITNESSES Obstruction raps eyed over Bato’s escape 10 hours ago The National Bureau of Investigation and the Office of the Ombudsman are investigating a possible obstruction of justice complaint... BusinessLAW AMLC to confirm P6.7 billion bank transactions of VP, Mans? 10 hours ago The Anti-Money Laundering Council (AMLC) is expected to present to the Senate impeachment court today its report on the P6.7... BusinessIMPEACHMENT ‘Biased impeach vote likely for absent senator-judges’ 10 hours ago Senator-judges who missed the impeachment proceedings against Vice President Sara Duterte might end up voting based solely... BusinessIMPEACHMENT Sara Duterte's call for Marcos to resign 'self-serving,' says prosecutor 16 hours ago House prosecutor says VP herself would benefit if Marcos steps down. BusinessBONGBONG MARCOSSARA DUTERTESARA DUTERTE'S IMPEACHMENT next Recommended New witnesses on Taguig infrastructure projects surface – Lacson New witnesses have approached the Office of the Ombudsman to detail the delivery of “boxes of money” tied to anomalous infrastructure projects in Taguig, Sen. Panfilo Lacson said yesterday, a day after Senate Minority Leader Alan Peter Cayetano returned home from Singapore. 10 hours ago OMBUDSMAN WITNESSES Obstruction raps eyed over Bato’s escape The National Bureau of Investigation and the Office of the Ombudsman are investigating a possible obstruction of justice complaint over the escape of Sen. Ronald “Bato” dela Rosa from the Senate, NBI Director Melvin Matibag said over the weekend. 10 hours ago LAW AMLC to confirm P6.7 billion bank transactions of VP, Mans? The Anti-Money Laundering Council (AMLC) is expected to present to the Senate impeachment court today its report on the P6.7 billion in transactions linked to the bank accounts of Vice President Sara Duterte and her husband Manases Carpio under Article II of the impeachment, on unexplained wealth. 10 hours ago IMPEACHMENT ‘Biased impeach vote likely for absent senator-judges’ Senator-judges who missed the impeachment proceedings against Vice President Sara Duterte might end up voting based solely on political persuasion or alliances, Sen. Panfilo Lacson warned yesterday, questioning how absent members can make an informed decision to convict or acquit the impeached official. 10 hours ago IMPEACHMENT Sara Duterte's call for Marcos to resign 'self-serving,' says prosecutor House prosecutor says VP herself would benefit if Marcos steps down. 16 hours ago BONGBONG MARCOS SARA DUTERTE SARA DUTERTE'S IMPEACHMENT OK Are you sure you want to log out? Yes No X Login Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!