The local stock market closed nearly unchanged on Friday as investors remained cautious amid the ongoing conflict in the Middle East, while the peso weakened against the US dollar.
The Philippine Stock Exchange Index (PSEi) edged up 0.14% to 6,098.21, while the broader All Shares index slipped 0.19% to 3,408.53.
Sectoral performance was mixed. Services led gainers with a 1.97% rise, followed by Mining and Oil at 1.72%. On the downside, Property posted the steepest loss at 1.41%, Industrial fell 0.64%, Holding Firms dropped 0.39%, and Financials eased 0.09%.
Market activity remained steady, with total trading volume reaching 638.6 million shares. Decliners slightly outnumbered advancers, 102 to 100, while 66 issues were unchanged.
“The PSEi moved to 6,098.21 up by +0.14%. The Philippine market closed relatively flat, as investor confidence remained fragile amid lingering uncertainty over the US-Iran ceasefire. Participants staying on short positions while monitoring geopolitical developments and inflation risks,” said Luis Limlingan of Regina Capital Development Corporation.
He added that the weakening of the peso further dampened market sentiment.
The Philippine peso closed at ₱59.97 against the US dollar, weaker than Thursday’s ₱59.43 finish. It opened at ₱59.75 and traded between ₱59.65 and ₱60, averaging ₱59.77.
Dollar trading volume also declined to $1.5 billion from $2.48 billion in the previous session, reflecting subdued foreign exchange activity amid cautious investor positioning.