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Manila Bulletin devider Business devider The Stock Market devider PSEi ends week near 6,000 as Iran keeps Strait of Hormuz closed to oil tankers

PSEi ends week near 6,000 as Iran keeps Strait of Hormuz closed to oil tankers

Published Mar 13, 2026 04:50 pm
The Philippine Stock Exchange index (PSEi) dropped back to the 6,000 level on Friday, March 13, as global markets reacted to Iran’s intent to close the Strait of Hormuz and send oil prices to $200 a barrel.
The main index dropped 54.64 points, or 0.89 percent, to close at 6,058.94. The mining and oil sector led the decline, with only the industrial counter managing to advance.
Volume rose to 886 million shares worth ₱13.84 billion due to ₱9-billion worth of block sales. Losers outnumbered gainers—108 to 68, with 79 unchanged.
“The Philippine market declined in line with the broader downturn in global markets as investors reacted to escalating tensions in the Middle East. Threats of continued increase in oil prices heightened concerns over inflation and potential policy tightening,” said Regina Capital Development Corp. managing director Luis Limlingan.
He added that the weakening peso and heightened geopolitical uncertainty have made investors more cautious, leading to subdued trading activity. Turnover net of extraordinary block sales was just ₱4.79 billion, as the week ended with the peso sliding to a new historic-low close of ₱59.735 against the United States (US) dollar.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market extended its decline as the conflict in the Middle East continue to weigh on investor sentiment. Iran’s supreme leader Mojtaba Khamenei saying that the Strait of Hormuz must remain closed fueled fears over the outlook of oil prices.”

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Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco
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