Stocks plunge to 6-month low

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May 30, 2026 | 12:00am

MANILA, Philippines — The local stock market sank to a six-month low as a result of persisting uncertainties in the Middle East, coupled with MSCI rebalancing flows.

The bellwether Philippine Stock Exchange index (PSEi) plunged by 1.56 percent or 91.18 points to finish the week at 5,768.76, the lowest since closing at 5,756.66 on Nov. 18, 2025.

The broader All Shares index also fell by 0.82 percent or 26.98 points, closing at 3,280.97.

Philstocks Financial research manager Japhet Tantiangco said the local market closed lower still due to uncertainties over the US-Iran situation.

“So far, mixed signals are seen with respect to the situation. While both are seemingly closing in on an agreement, exchanges of military force have also been observed recently, dimming hopes for a peace deal,“ Tantiangco said.

AB Capital Securities, for its part, said the index closed at session lows amid MSCI rebalancing flows, with net foreign selling surging to P6.65 billion, the second highest daily outflow year-to-date.

It said Jollibee Foods Corp. led both decliners and activity at 24 percent of turnover following its MSCI downgrade.

JFC was the session’s top traded stock, falling by 6.14 percent to P126.90 per share. It was followed by ICTSI and Meralco, which plummeted by 4.75 percent and 4.76 percent, respectively, to P752.50 and P570.50.

Trading was strong as total turnover value expanded to P26.47 billion due mainly to the MSCI rebalancing.

Sectoral gauges were mixed, with those in the red with a slight advantage. Services took the biggest hit with a 3.52 percent drop, while financials posted the biggest increase at 0.98 percent.

Decliners battered advancers, 106 to 75, while 61 issues were unchanged.