The PSEi is still on a losing streak, declining as the market suffers from a lack of fresh leads.

The main index lost 21.47 percent or 0.34 percent to close at 6,344.56 as Banks and Services led the retreat. Volume was still below average at 328 million shares worth P3.94 billion as gainers outnumbered losers 92 to 86 with 58 unchanged.

“Philippine shares continued to slide while US futures remained largely unchanged as investors awaited further gains following the index's recent record high,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “the local stock market lost its early momentum, ending in negative territory for the seventh consecutive session. The lack of catalysts to boost investor sentiment contributed to the benchmark index's decline.”

Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse dropped amid a lack of fresh leads to drive the market upwards, marking the seventh straight day of decline.”

“Investors are seeking clear direction on interest rates amid mixed signals, making them wait for the next policy meeting despite expectations that the BSP won’t cut rates.

“Foreigners remained net sellers, recording a net outflow of P552.19 million. Moreover, Economist Impact Asia Pacific’s projection that the Philippine economy will grow below the government’s target until 2028 further weighed on sentiment,” she noted.