Philippine shares sank Wednesday, with global market weakness fueled by concerns over a possible tech bubble offsetting positive news about steady October inflation data.
The Philippine Stock Exchange index (PSEi), the country’s stock barometer, closed at 5,818.06, down 48.98 points, or 0.83 percent. The broader all-shares index ended at 3,534.38, lower by 24.50 points, or 0.69 percent.
The peso likewise depreciated to 58.83 to the U.S. dollar Wednesday from 58.515 Tuesday.
“The Philippine market closed lower amid heavy selling pressure, despite inflation figures aligning with expectations,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
The Philippines’ annual headline inflation rate held steady at 1.7 percent in October 2025, matching the pace seen in September 2025, according to the Philippine Statistics Authority.
“However, the upcoming release of GDP data and corporate earnings from major index constituents will likely influence market sentiment and determine the market’s next direction,” Limlingan said.
Asian stocks also closed lower after U.S. stocks fell Tuesday, weighed down by declines in artificial intelligence-related names. Analysts said investors grew increasingly cautious about lofty valuations among the market’s leading gainers.
All indices ended in red, led by mining and oil, which dropped 3.62 percent. This was followed by holding firms, which went down by 1.3 percent, and property, which dropped by 1 percent.
The market closed with 53 gainers, 137 decliners and 61 unchanged. Market turnover stood at P4.54 billion.
Foreign investors were net buyers, with inflows at P339.58 million.
Metropolitan Bank & Trust Co. was the day’s top index gainer, climbing 2.26 percent to P68, while Aboitiz Equity Ventures was at the bottom, declining by 4.78 percent to P26.90.
