Manila, March 7, 2026, 16:29 PHT
- PSEi dropped 4.40% over the week of March 2-6, ending at 6,320.41.
- Sector-wise, Mining and Oil posted the steepest losses. Foreign investors ended up as net sellers for the week.
- Petron surged 21.71%, while Ayala Corp slipped 10.33% in the exchange’s weekly tally.
Philippine shares wrapped up the week sharply lower, with the Philippine Stock Exchange index (PSEi) sliding 4.40% to 6,320.41 for the March 2-6 stretch. The selloff weighed on miners and banks, while foreign investors flipped to net sellers. Still, exchange data showed the 30-member PSEi holding a 4.42% gain so far this year.
Stocks pulled back while Manila investors kept an eye on oil-fueled inflation pressures from the escalating Middle East conflict—raising questions for interest rates, the peso, and business expenses. Headline inflation picked up to 2.4% in February. Officials flagged energy prices as a key concern and said they might suspend fuel excise taxes if world oil prices push past $80 per barrel. 1
The rebound seen on Thursday fizzled by Friday, underscoring the market’s recent jitters. “The local market bounced back as investors hunted for bargains” thanks to hopes the government can cushion the blow from rising oil prices, Philstocks Financial research manager Japhet Louis O. Tantiangco said in a Viber message. Regina Capital Development’s Luis A. Limlingan, head of sales, flagged “hopes of possible talks between Iran and the US,” and noted that inflation matching expectations helped calm sentiment. 2
It was a volatile stretch for the PSEi. The index tumbled 2.79% to start the week, picked up a modest 0.29% on Tuesday, and then dropped another 2.13% by Wednesday. Thursday brought some relief with a 1.15% rebound. Friday, though, saw another slip — down 0.94% at the close.
Mining and oil tumbled 8.69% this week, making it the sector’s steepest drop. Financials slid 6.62%, holding firms off 5.81%. Services held up best, easing just 0.97%, and property declined 2.99%.
Petron Corp surged 21.71% for the week, according to the exchange’s weekly market watch. DigiPlus Interactive wasn’t far behind, up 12.67%. San Miguel Corp tacked on 5.81%. Losers included Cebu Air, which plunged 13.19%. JG Summit slipped 12.67%, with Ayala Corp finishing the week down 10.33%.
Foreign investors unloaded roughly 947 million pesos ($16.2 million) between March 2 and 6, flipping from net purchases of about 6.01 billion pesos just a week earlier, according to the same exchange report. Market capitalization dropped to around 19.14 trillion pesos, down from 19.83 trillion pesos. Average daily trading value also edged lower, landing at about 8.12 billion pesos.
Right now, there’s a real risk: if energy costs climb again, it could ripple through to food and transport, locking inflation in place and squeezing the space for rate cuts. Rate-sensitive stocks would take the brunt, and foreign investors might stay wary. If geopolitical tensions suddenly ease, relief rallies can follow, though those bursts have faded quickly.
Here’s a quick detail on positioning: the PSE’s March 6 daily short selling report listed zero short sales. Since short selling allows traders to gain from falling prices, the lack of activity points to no new downside bets being placed via that route.
