Stocks tumble as investors cash in

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January 17, 2026 | 12:00am

MANILA, Philippines — Local stocks tumbled as investors pocketed gains following a sharp increase the previous day.

The bellwether Philippine Stock Exchange index slipped by 0.35 percent or 22.86 points to close the week at 6,464.67.

The broader All Shares index likewise retreated by 0.23 percent or 8.37 points, settling at 3,652.33.

“The market closed a tad lower as investors seized the opportunity to take profits based on a technicals standpoint after hitting a key resistance at 6,480, while waiting for bigger catalysts that could drive the market to higher highs,” AP Securities Inc. said

Aside from profit taking, Regina Capital’s Luis Limlingan said the market was also weighed down by the peso’s continued depreciation against the dollar.

“This was further pressured by remittances falling to their lowest level in six months in November,” Limlingan said.

The Bangko Sentral ng Pilipinas reported on Thursday that cash remittances posted a 3.6-percent increase to $2.91 billion in November from $2.81 billion in the same month in 2024.

However, the amount of money sent home by overseas Filipinos was the lowest in six months of since the $2.66 billion recorded in May 2025.

Sectoral gauges were a mixed bag, with financials leading the charge with a 0.52-percent jump, while services lost the most at 1.74 percent.

Trading stayed active as total value turnover reached P7.25 billion, almost unchanged from the previous day’s P7.30 billion.

Market breadth was negative as decliners edged out advancers, 99 to 93, while 77 issues were unchanged.