October 28, 2025 | 12:00am
MANILA, Philippines — Investors continue to stay wary about buying Philippine shares as the peso struggles against the dollar, dragging the local stock market in the red at the start of a shortened trading week.
The bellwether Philippine Stock Exchange index (PSEi) yesterday fell by 0.91 percent or 54.26 points to settle at 5,933.76, as investors were forced to sell off again on currency weakening and corporate performance.
The broader All Shares index also declined by 0.73 percent or 26.38 points to close at 3,581.73.
Regina Capital Development Corp. head of sales Luis Limlingan said investors were antagonized by the peso’s depreciation against the dollar.
“The Philippine market declined by nearly one percent, as selling pressures persisted throughout the trading session. The depreciation of the (peso) against the dollar continued to make investors trade cautiously,” Limlingan said.
The peso weakened by 27.5 centavos to close yesterday at 58.9 to $1 from Friday’s 58.625 to $1.
Further, investors seem to be unimpressed by the first round of companies, mostly banks, reporting their third quarter earnings.
“The release of some companies’ earnings also influenced (yesterday’s) market performance,” he said.
According to Limlingan, investors would be turning overseas for catalysts, as the US Federal Reserve is scheduled to meet this week to discuss what could be another rate cut.
The PSEi saw P18.77 billion worth of shares change hands yesterday.
Losers outnumbered the winners, 131 to 55, while 59 issues were unchanged.