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Manila Bulletin devider Business devider The Stock Market devider PSEi loses early gains as concern over US-Iran war prevails

PSEi loses early gains as concern over US-Iran war prevails

Published Jul 13, 2026 05:05 pm

The Philippine Stock Exchange index (PSEi) opened the week lower as early bargain-hunting gave way to concerns over rising tensions in the Middle East.

The main index shed 20.98 points, or 0.33 percent, to close at 6,265.72. Miners led the retreat, while services was the only sector to finish in the green.

Volume reached 1.15 billion shares worth ₱16.82 billion due to block sales. Losers outnumbered gainers—101 to 77, with 75 issues unchanged.

“The local bourse ended lower as investors continued to consolidate positions, with the PSEi trading below the key 6,300 resistance level,” said Regina Capital Development Corp. managing director Luis Limlingan.

Market participants remained cautious as they awaited fresh catalysts to determine the market’s next direction. He noted that “sustained buying interest and a breakout above resistance may be needed to support further upside momentum.”

Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market started the day on a positive note backed by bargain hunting. However, the bourse eventually fell as rising global oil prices amid renewed United States (US)-Iran tensions weighed on sentiment.”

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael Ricafort said the PSEi declined in a healthy correction following the year-on-year drop in net foreign direct investments (FDIs), higher electricity prices, and rising oil prices due to the US-Iran conflict since last week.

Related Tags

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