Manila: Philippine stocks and the peso ended in negative territory on Friday after the Bangko Sentral ng Pilipinas (BSP) raised its inflation outlook beyond the target range for next year. The Philippine Stock Exchange index (PSEi) slipped 0.19 percent to 5,972.82, while the broader All Shares index inched up 0.05 percent to 3,335.86.
According to Philippines News Agency, sectoral performance was mixed. Holding Firms rose 0.68 percent and Property gained 0.04 percent. Decliners were led by Mining and Oil, down 0.72 percent, followed by Financials, 0.55 percent; Services, 0.49 percent; and Industrial, 0.13 percent.
Trading volume reached 2.47 billion shares valued at PHP8.95 billion. Advancers narrowly beat decliners, 92 to 91, while 54 issues were unchanged.
Philstocks Financial Inc. noted in a market report that the local market continued its decline amid rising inflation expectations as the duration of the US/Israel-Iran war remains uncertain.
The BSP's policy-making Monetary Board held an off-cycle meeting on Thursday and kept key policy rates unchanged. However, it raised its 2026 inflation forecast to 5.1 percent from 3.6 percent, citing the impact of the ongoing conflict in the Middle East.
The peso also weakened, closing at 60.55 against the U.S. dollar from 60.23 the previous day. It opened at 60.33 and traded between 60.57 and 60.28, with an average of 60.38.
Dollar trading volume rose to USD1.34 billion from USD1.17 billion a day earlier.
