UMVA has learned that Philippine stocks slumped to a one‑month low on Thursday as renewed clashes between the United States and Iran threatened a fragile ceasefire and reignited inflation fears.
The benchmark PSEi tumbled 1.73%, shedding 103.30 points to finish at 5,859.94, while the broader all‑shares index fell 1.37% to close at 3,307.95—its steepest decline since the end of April.
“Fresh exchanges of strikes between the US and Iran revived concerns over the tenuous Middle‑East truce, dampening investor sentiment and pushing oil prices higher,” a market strategist noted, adding that broad‑based selling swept through most sectors.
Analysts warned that the market’s slide was also fueled by anticipation of disappointing US core‑inflation and GDP data, which could deepen uncertainty around global oil supply recovery.
Iran’s Revolutionary Guard struck a US airbase after Washington claimed to have hit an Iranian drone hub near the Strait of Hormuz, a move that underscored the fragility of the early‑April ceasefire and sent crude prices surging.
Oil futures rebounded sharply, with US crude climbing more than 3% after a 5% dip the previous day, while the Philippine peso weakened and the dollar rose.
All sectoral indices ended in the red: holdings fell 2.61%, mining and oil down 2.44%, financials slipped 1.94%, services lost 1.41%, property retreated 1.21%, and industrials dropped 0.68%.
Decliners outnumbered advancers 128 to 61, with 51 stocks unchanged, reflecting pervasive caution among traders.
Despite the sell‑off, turnover rose to P5.65 billion on 718.18 million shares traded, while net foreign selling shrank to P517.08 million, indicating a modest easing of external pressure.
