Stocks, peso tumble as investors digest recent rate hike

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April 25, 2026 | 12:00am

MANILA, Philippines — The local stock market ended the week with its third straight loss as investors digested the recent interest rate hike of the Bangko Sentral ng Pilipinas.

The benchmark Philippine Stock Exchange index (PSEi) tumbled by 0.67 percent or 40.32 points to end yesterday’s session at 5,943.49.

The broader All Shares index also slipped by 0.52 percent or 17.50 points, closing at 3,352.22.

“The PSEi extended its decline as investors remained in risk-off mode amid continued peso depreciation following the BSP’s recent rate hike,” Luis Limlingan of Regina Capital said.

Limlingan said currency weakness and higher borrowing costs also added pressure on equities. 

“Sentiment was further dampened by persistent uncertainty in the Middle East, keeping buying interest subdued,” he said.

The peso weakened yesterday, closing at 60.70 per dollar, as external pressures continued to weigh on the local currency.

Data from the Bankers Association of the Philippines showed the peso depreciated by 22 centavos from Thursday’s 60.48 finish. The currency opened at 60.69 and traded within a tight range, hitting a high of 60.80 and a low of 60.67 during the session.

While still elevated above the 60-per-dollar level, the latest close remains slightly stronger than the record low of 60.748 recorded on March 31.

Stock market trading, meanwhile, remained weak as total turnover value declined further to P5.52 billion from the previous day’s P5.74 billion.

Decliners pummeled advancers, 110 to 80, while 64 issues did not change hands.

All sectors were in the red, except for industrial which improved by 0.10 percent. Financials was the biggest loser, sliding by 1.63 percent.

BDO was the session’s top traded stock, plunging by 2.29 percent to P115 per share, followed by ICTSI which was unchanged at P710 and BPI which plummeted by 3.46 percent to P92.10. — Keisha Ta-asan