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Manila Bulletin devider Business devider The Stock Market devider Stocks slump as Marcos flags growth risks, tolerates food price hikes

Stocks slump as Marcos flags growth risks, tolerates food price hikes

Published May 20, 2026 04:48 pm
Local stocks edged lower as investors weighed warnings from President Ferdinand Marcos Jr. that persistent global supply disruptions could push the economy into stagflation.
The benchmark Philippine Stock Exchange index (PSEi) dropped 3.40 points, or 0.06 percent, to close at 5,893.40 on Wednesday, May 20. Sectoral gauges were evenly split, reflecting a broader caution across the domestic equity market.
Trading volume remained thin, with 1.24 billion shares valued at ₱5.67 billion changing hands. Decliners outpaced advances 111 to 74, while 59 stocks closed unchanged.
Market sentiment turned defensive after President Marcos flagged risks of stagflation, an economic condition characterized by stagnant growth, elevated unemployment, and sharp consumer price increases.
The local equity market ended flat as investors adopted a wait-and-see approach following the president’s comments on economic pressures, according to Luis Limlingan, managing director at Regina Capital Development Corp.
Trading volumes were subdued because market participants chose to stay on the sidelines ahead of clearer domestic policy directions and upcoming economic data releases, Limlingan said.
The benchmark index fell after the administration signaled it may tolerate price adjustments for certain nonessential food items to relieve pressure on producers who are feeling the pinch of rising operational costs, according to Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
The retreat also tracked a broader overnight decline on Wall Street, where equities faced pressure from a run-up in long-term US Treasury yields, according to Japhet Tantiangco, research manager at Philstocks Financial Inc.
Local investor confidence continues to face headwinds from a combination of elevated global crude oil prices, a weakening peso, and the rising domestic threat of a stagflationary environment, Tantiangco said.

Related Tags

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