Stocks tumble anew on cautious trading

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April 15, 2026 | 12:00am

MANILA, Philippines — Cautious investor sentiment while waiting for further developments in the Middle East kept the local stock market down for a second straight session.

Despite ending lower, the bellwether Philippine Stock Exchange index (PSEi) still managed to retain its hold above the 6,000 territory.

The PSEi slipped by 0.68 percent or 40.95 points, settling at 6,013.10, while the broader All Shares index inched down by 0.28 percent or 9.4 points to close the session at 3,377.12.

“The local market extended its decline as investors continue to worry over elevated oil prices and the inflation risks it poses. This comes as tensions in the Middle East continue with the US blockading the Strait of Hormuz,” Philstocks Financial research manager Japhet Tantiangco said.

Tantiangco said foreigners were net sellers during the session, with net outflows at P446.77 million.

Total turnover value thinned to P5.92 billion from the previous day’s P7.8 billion.

Sectoral gauges were a mixed bag, slightly dominated by those in the red.

Services took the biggest hit with a 1.45-percent drop, while mining and oil posted the largest gain at 1.03 percent.

Market breadth, however, was positive as advancers outnumbered decliners, 110 to 93, while 61 issues were unchanged.

ICTSI remained the most actively traded stock, plunging by 1.91 percent to P720 per share, followed by BDO Unibank and Jollibee which fell by 0.85 percent and 1.48 percent, respectively, to P116 and P159.50.

Asian stocks rose yesterday on hopes for a deal to end the Middle East war and reopen the Strait of Hormuz, with Donald Trump saying Tehran had called to seek an agreement even as a US naval blockade around Iran’s ports began.