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Manila Bulletin devider Business devider The Stock Market devider Investors dump Philippine shares amid rising Mideast tensions

Investors dump Philippine shares amid rising Mideast tensions

Published Jun 23, 2025 04:30 pm
The Philippine Stock Exchange index (PSEi) plunged in a knee-jerk reaction to the United States’ (US) bombing of Iran’s nuclear facilities, as this may lead to further escalation in the conflict and fuel more oil price hikes.
The main index fell by 121.49 points, or 1.92 percent, to close at 3,218.28 on Monday, June 23. The mining and oil sector led the retreat across the board. A total of 1.03 billion shares worth ₱6.29 billion were traded, with losers beating gainers—142 to 60, and 44 unchanged.
“Philippine shares were sold down on Monday back to 6,200-level tracking a broader market as Middle East tensions continue with President Donald Trump further fueling tension as the US enters the war,” said Regina Capital Development Corp. Managing Director Luis Limlingan.
Philstocks Financial Research Manager Japhet Tantiangco said, “The PSEi opened the week on a negative note as investors reacted to the escalation of the Israel-Iran conflict upon the involvement of the US.”
“Investors dealt with the economic repercussions of the escalation including the outlook of higher oil prices and the depreciation of the peso. This comes amid Iran’s plan of blocking the Strait of Hormuz where a significant amount of oil shipments go through,” he noted.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the PSEi declined after the exchange rate went up to new highs in nearly three months, or since March 26, 2025, at ₱57.6-levels lately after the US surprisingly attacked Iran’s nuclear facility last Saturday.
He said this “could lead to potential escalation of the Israel-Iran war, as the markets await a possible response by Iran.”

Related Tags

Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco Rizal Commercial Banking Corporation Michael L. Ricafort
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