PSEi Dips as Investors Await GDP Data Amid Mideast Tensions

MANILA, Philippines — Local stocks ended slightly lower on Thursday as investors stayed on the sidelines ahead of the release of the Philippines’ economic growth data, while geopolitical tensions in the Middle East continued to dampen risk appetite. The benchmark Philippine Stock Exchange Index (PSEi) slipped 0.13 percent, or 8.36 points, to close at 6,277.95. According to Philstocks Financial Inc., investors remained cautious as they awaited the country’s gross domestic product figures, which could provide fresh clues on the strength of the local economy. Uncertainty between the US and Iran also weighed on sentiment after Tehran denied reports of ongoing talks. Luis Limlingan, head of sales at Regina Capital Development Corp., said a rise in unemployment in the latest labor report further dampened sentiment and raised concerns over domestic economic momentum. “As a result, risk appetite stayed subdued, with investors opting to trim positions while awaiting clearer signals on the country’s growth outlook,” Limlingan said. Despite the weak finish, bargain hunting in the final minutes of trading helped trim earlier losses. Trading activity remained subdued, with net value turnover reaching P5.64 billion, reflecting the cautious mood among investors. Foreign investors also stayed on the selling side, posting net outflows of P323.68 million. Sectors posted mixed performance. The industrial index led the gainers after climbing 0.97 percent, while the services sector posted the steepest decline, falling 0.44 percent. Among individual stocks, DigiPlus Interactive Corp. emerged as the session’s top performer on the benchmark index, rising 3.26 percent to P9.50. Meanwhile, Bank of the Philippine Islands was the biggest laggard, dropping 2.32 percent to P101 per share. Analysts said investors are likely to remain cautious in the near term as they assess incoming economic data and monitor global developments, particularly geopolitical risks that could continue to influence market sentiment.