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Manila Bulletin devider Business devider The Stock Market devider PSEi falls on geopolitical risks, plunge of precious metals

PSEi falls on geopolitical risks, plunge of precious metals

Published Feb 2, 2026 05:18 pm
The Philippine Stock Exchange index (PSEi) on Monday, Feb. 2, declined as cautious investors took note of geopolitical tensions while also waiting for the release of January inflation data.
The main index dropped 31.89 points, or 0.5 percent, to close at 6,297.08. Miners plunged due to the fall of precious metal prices, while the services counter was the sole advancer.
Volume was high at 2.29 billion shares worth ₱9.1 billion. Losers beat gainers—128 to 79, with 56 unchanged.
“The PSEi ended lower amid cautious trading as investors awaited the inflation print, despite consensus expectations of stable inflation,” said Regina Capital Development Corp. managing director Luis Limlingan. The January inflation report will be out on Thursday, Feb. 5.
He added that, “Investors booked profits following gains in the previous trading session. Sentiment was further dampened by reports of slower economic growth amid local uncertainties, as well as a sharp sell-off in gold and silver.”
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market declined as concerns over the local economy’s momentum weighed on investors’ sentiment following the dismal gross domestic product (GDP) growth seen in the fourth quarter of 2025.” GDP grew by a dismal three percent in the final quarter of last year, bringing full-year economic growth to 4.4 percent, the lowest annual print post-pandemic.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi retreated amid the latest geopolitical risks on Iran, whose leader warned of a regional conflict, particularly with Israel.
He noted that after United States (US) President Donald Trump named Kevin Warsh as the next US Federal Reserve (Fed) chair, there was sharp downward correction in world gold prices to new lows in nearly three weeks or since Jan. 13, 2026, thereby leading to lower prices of gold-related stocks.

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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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