PSEi stumbles at open on deepening Middle East crisis

MANILA, Philippines – Philippine stocks opened in the red on Monday, tracking a sharp global selloff as escalating tensions in the Middle East continued to drive investors away from riskier assets.

As of 9:50 a.m., the benchmark Philippine Stock Exchange Index (PSEi) fell 99.49 points or 1.65 percent, to 5,919.13.

The early decline came amid heightened geopolitical jitters after the Middle East war entered its fourth week, fueling concerns over potential disruptions to global energy supplies and broader economic stability.

READ: Oil prices up following Trump ultimatum on Iran

Investor sentiment was further dampened after US President Donald Trump warned that Washington could “obliterate” Iran’s power infrastructure if Tehran fails to reopen the Strait of Hormuz within 48 hours—a key global oil shipping route.

The risk-off mood was evident across the region, with major markets in Japan and South Korea plunging more than 5 percent as investors rushed to safe-haven assets.

Back home, trading activity was relatively muted in early deals, with 7.32 million shares valued at P782.45 million changing hands across just four trades, reflecting cautious positioning among market participants. INQ