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Manila Bulletin devider Business devider The Stock Market devider Profit-taking snaps PSEi's winning streak

Profit-taking snaps PSEi's winning streak

Published Oct 9, 2025 05:03 pm
The Philippine Stock Exchange index (PSEi) pulled back on profit-taking before the Bangko Sentral ng Pilipinas announced a rate cut at the close of trading hours.
The main index lost 41.34 points or 0.68 percent to close at 6,057.40 on Thursday, Oct. 9, although sectoral indices were equally split.
Volume was relatively stable at 5.35 billion shares worth ₱6.51 billion as losers trounced gainers 135 to 72, with 55 unchanged.
“The PSEi ended its 2-day winning streak as profit-taking weighed on the market early in the session,” said Regina Capital Development Corp. Managing Director Luis Limlingan.
He added, “In an unexpected move, the BSP cut its policy rate to 4.75 percent, which could serve as a key catalyst to boost market sentiment moving forward.”
Philstocks Financial Research Manager Japhet Tantiangco said, “The local market declined as investors took profits following a 2-day rally. The Peso's depreciation also weighed on the local bourse.”
He noted that, “For the most part of the day, investors traded cautiously while waiting for the BSP's policy decision.”
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said the PSEI declined amid some healthy profit-taking after gaining for two straight days.
He added that this is also after the recent reports from the SEC about the decline in the market capitalization in the local stock market over the past three weeks due to the recent political noises.

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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