Philippine equities slipped on Tuesday as last‑minute selling intensified, while investors remained cautious amid lingering geopolitical uncertainty and an ambiguous corporate earnings outlook.
The Philippine Stock Exchange index fell 0.17%, or 10.87 points, to close at 6,304.03. The broader all‑shares index also declined, dropping 0.24% or 8.33 points to end at 3,427.04.
Market sentiment stayed tentative as weakness spread across regional markets. Traders continued to monitor upcoming earnings reports for further direction.
Profit‑taking pressure and concerns over tensions between the United States and Iran contributed to the downward movement.
The index opened at 6,290.44, below Monday’s close of 6,314.90, rose intraday to a high of 6,349.35, and later fell to a low of 6,283.09.
Sectoral performance was mixed: mining and oil gained 0.5%, financials rose 0.35%, services increased 0.17% and holding firms edged up 0.01%. Industrials slipped 1.23% and property fell 0.73%.
Declining stocks outnumbered advancing ones, 89 to 78, while 68 shares remained unchanged.
Converge ICT Solutions led the market, climbing 3.47% to P10.72 on bargain‑seeking activity. Manila Electric Company (Meralco) lagged, dropping 4.66% to P562 after a proposal to remove system‑loss charges for consumers.
Meralco confirmed its willingness to engage in discussions on proposed amendments to the Electric Power Industry Reform Act and noted that its system loss remains well below the regulator’s 6.5% ceiling.
Value turnover increased to 6.67 billion pesos, with 790.17 million shares traded, up from Monday’s 4.81 billion pesos and 448.08 million shares.
Net foreign buying recorded 115.12 million pesos, reversing the previous session’s net selling of 196.45 million pesos.
Meralco’s controlling shareholder, Beacon Electric Asset Holdings, is partially owned by PLDT, which also holds interests in related media entities.
