The Philippine Stock Exchange index (PSEi) began the week with a gain of 0.43 percent, or 25.88 points, closing at 5,986.85. This rebound followed a decline last Friday, as investors took advantage of bargain opportunities.
Conversely, the peso opened weaker against the US dollar, settling at P61.15, down from P60.613.
While the market opened strong due to initial buying momentum, it struggled to maintain gains, falling short of the critical 6,000 level. Investor caution prevailed amid ongoing geopolitical tensions, particularly the unresolved situation between the United States and Iran.
Trading was subdued, with a net value turnover of only P5.05 billion. Foreign investors were net sellers, resulting in outflows of P146.61 million.
Luis Limlingan, head of sales at Regina Capital Development Corp., noted that the market's recovery stemmed from strong morning buying, although afternoon profit-taking tempered gains. He observed that investors remained selective as more companies released their first-quarter earnings.
Japhet Tantiangco, research manager at Philstocks Financial Inc., echoed these sentiments, stating that the market's inability to surpass the 6,000 resistance level indicated continued investor caution.
Sector Performance and Notable Stocks
In sectoral performance, property stocks led the gains, increasing by 1.89 percent. In contrast, mining and oil shares witnessed the largest decline at 1.81 percent.
Market breadth showed a slight negative trend, with 100 decliners compared to 91 advancers, while 73 issues remained unchanged.
Among the PSEi constituents, Puregold Price Club, Inc. emerged as the top gainer, surging 4.78 percent to P46.00. Meanwhile, DigiPlus Interactive Corp. was the biggest laggard, dropping 5.40 percent to P12.96.
Peso Weakens Amid Economic Concerns
The peso's decline of 53.7 centavos from Friday's figures reflects broader economic concerns. It opened at P61.65 and fluctuated between P60.58 and P61.15 during trading.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., attributed the peso's weakness to a significant year-on-year decline in foreign direct investment (FDI), which fell to $590 million in February 2026, marking a 30.9 percent decrease from the previous year.
The peso's decline is also influenced by recent political uncertainties.
Michael Ricafort, Rizal Commercial Banking Corp.