Stocks retreat on ME uncertainty, peso depreciation

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March 20, 2026 | 12:00am

MANILA, Philippines — The local stock market’s two-day winning momentum was cut short amid the prevailing uncertainty in the Middle East coupled with the depreciation of the peso against the dollar.

Following back-to-back wins, the benchmark Philippine Stock Exchange index slipped by 0.61 percent or 36.83 points to close at 6,018.62.

The broader All Shares index also i

nched down by 0.56 percent or 18.69 points, finishing at 3,344.87.

“The market ended the week in the red as the Middle East tensions continue to wreak havoc on the global economy, keeping pump prices at elevated levels,” AP Securities Inc. said.

Luis Limlingan of Regina Capital said the local market capped off the week lower following strong selling pressure early in the session, driven by the peso’s drop to a record low against the dollar after the Fed kept interest rates unchanged.

“Additionally, ongoing uncertainty in the Middle East, which continues to impact oil prices, further weighed on market sentiment. However, late-session buying interest helped trim the index’s losses,” he said.

All sectors were in the red, except for industrial which eked out a 0.15-percent increase.

Mining and oil fell the hardest, plummeting by 6.70 percent, followed by property which fell by 1.41 percent.

Market breadth was negative as decliners squashed advancers, 133 to 61, while 55 issues did not change hands.

Total value turnover improved to P10.11 billion from the previous day’s P6.06 billion.

ICTSI was again the most actively traded, with its share price declining by 0.28 percent to P700 per share. It was followed by BPI, which plunged by 1.98 percent to P99, and BDO, which surged by 1.84 percent to P121.50.