THE Philippine Stock Exchange index (PSEi) extended its losing streak to five sessions on Thursday, plunging by 1.12 percent to 5,730.02, its lowest close since Nov. 14, 2025, as fresh downgrades to the country’s growth outlook further weakened investor sentiment.
Japhet Tantiangco, research manager at Philstocks Financial Inc., said the market came under pressure after S&P Global Ratings and the Asian Development Bank (ADB) trimmed their 2026 growth forecasts for the Philippines. S&P slashed its forecast to 2.9 percent from 4.1 percent, while the ADB lowered its projection to 3.3 percent from 3.8 percent.
Tantiangco also noted that higher US Treasury yields brought negative spillovers to Wall Street and the local market.
Trading was lethargic, with net value turnover at P4.63 billion. Foreign investors were net sellers, recording net outflows of P749.31 million.
Only the conglomerates sector managed to post a gain, rising 0.43 percent. The five other sectoral indices declined, with miners suffering the steepest loss of 3.79 percent.
The market ended with 61 gainers, 131 decliners and 57 unchanged issues.
Ayala Corp. was the day’s index leader, climbing 3.09 percent to P500, while Manila Electric Co. was the main index laggard, dropping 3.46 percent to P447.
