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Manila Bulletin devider Business devider The Stock Market devider Marcos SONA fails to lift PSEi as Mideast, earnings worries linger

Marcos SONA fails to lift PSEi as Mideast, earnings worries linger

Published Jul 28, 2026 05:01 pm

The Philippine Stock Exchange index (PSEi) dipped on Tuesday, July 28, after President Ferdinand Marcos Jr.’s State of the Nation Address (SONA) last Monday, July 27, failed to distract investors from concerns over the Middle East and upcoming corporate earnings reports.

The main index shed 10.87 points, or 0.17 percent, to close at 6,304.03. Only the industrial and property sectors declined.

Volume improved but remained thin at 790 million shares worth ₱6.67 billion. Losers outnumbered gainers—89 to 78, with 68 issues unchanged.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the PSEi declined as “some SONA-related proposals could weigh on the valuations of some listed local companies, especially proposals on reduced electricity bill charges; signals on local monetary tightening/rate hike.”

“The local bourse ended lower as late-session selling emerged, with investors tracking weakness across regional markets. Sentiment remained cautious amid broad-based declines in neighboring markets,” said Regina Capital Development Corp. managing director Luis Limlingan.

He added, “The market closed lower as investors continued to monitor market developments, especially as more earnings results came in.”

Philstocks Financial Inc. research manager Japhet Tantiangco said, “Last-minute profit-taking sent the local bourse lower, with investors still worried over the uncertainties between the United States (US) and Iran.”

Related Tags

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