Economic jitters dim PSEi anew
MANILA, Philippines — The local stock barometer sank on Wednesday as the upswing in October national debt load, coupled with softer growth forecasts, reignited investors’ concerns.
The Philippine Stock Exchange Index (PSEi) dropped 1.48 percent, or 88.56 points, to finish at 5,905.84.
The broader All Shares Index likewise ended in the red, falling by 0.31 percent, or 10.71 points, to 3,464.79.
Only the mining and oil counter recorded slight gains during the trading session, while the services sector emerged as the biggest loser.
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However, data showed that trading was “quite active”, with net value turnover logged at P6.56 billion, Philstocks financial research manager Japhet Tantiangco said.
“The local market dropped with concerns on our country’s fiscal position and growth outlook fueling negative sentiment,” he said.
Debt woes
“Investors digested the latest national government outstanding debt data, which posted an increase, partly because of the pesos’s depreciation,” the analyst added.
READ: Philippine debt load climbed to P17.56T in October on weak peso
The weakening of the local currency pushed the national government’s debt to P17.56 trillion in October, up by P106.78 billion from the previous month.
READ: Peso falls to new record low of 59.17:$1 amid weak market confidence
The tempered economic expansion of the country is also seen to persist until 2027, with the Organisation for Economic Co-operation and Development trimming its growth forecasts to 4.7 percent this year and 5.1 percent in 2026.
For 2025, the government hopes that gross domestic product would grow by at least 5.5 percent to as much as 6.5 percent. A growth range of between 6 percent and 7 percent, meanwhile, is eyed for 2026 to 2028.
This latest forecast, Tantiangco said, “also weighed on the local bourse.”
Converge ICT Solutions, Inc. gained the most on Wednesday, climbing 3.63 percent to P16 per share.
DigiPlus Interactive Corp. was the top laggard, falling 5.46 percent to P22.50.
Decliners outnumbered advancers, 105 to 86, while 46 remained unchanged. /dda
