Manila: The peso strengthened against the US dollar on Monday, but the local bourse’s main index slipped as investors remain cautious following the weaker-than-expected economic growth in the third quarter of 2025. The local currency improved to the 58-level after ending the week’s first trading session at 58.96, from a 59.04 close last Friday. It started the trade sideways at 58.98 and traded between 58.79 and 59.07. The average for the day stood at 58.93. Volume increased to USD1.38 billion from USD1.21 billion at the end of last week.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) shed 0.99 percent to 5,702.64 points, and All Shares fell by 0.46 percent to 3,498.43 points. Only the Mining and Oil index gained during the day, rising by 7.19 percent. The services index registered the biggest drop among the sectoral gauges after it fell 1.36 percent. It was followed by Financials at 1.34 percent, Property at 0.78 percent, Holding Firms at 0.48 percent, and Industrial at 0.32 percent. Volume reached 1.86 billion shares amounting to PHP6.96 billion, with decliners leading advancers at 100 to 85, while 56 shares remained unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, commented that ‘the Philippine market ended lower despite cheaper valuations following the release of the GDP (gross domestic product) figures.’ Growth, as measured by GDP, expanded by 4 percent in the third quarter this year, lower than the previous year’s 5.2 percent and the previous quarter’s 5.5 percent. This decline is attributed to a drop in business and consumer confidence due to governance issues in the country during the period. ‘Investors remain cautious about entering the market as concerns over macroeconomic conditions persist. In addition, more firms are releasing their earnings, contributing to the overall mixed sentiment in the market,’ Limlingan added.