Philippine stocks fell further on Thursday as lower economic growth forecasts and rising US Treasury yields kept investors on the sidelines.
The benchmark Philippine Stock Exchange Index (PSEi) fell 1.12 percent, or 65.12 points, to close at 5,730.02, its fifth straight session in negative territory.
This was the index’s lowest finish since Nov. 14, 2025, when it ended at 5,584.35, according to Philstocks Financial Inc.
Philstocks said investors turned cautious after SandP Global Ratings and the Asian Development Bank (ADB) downgraded their 2026 growth forecasts for the Philippines.
SandP Global Ratings cut its projection to 2.9 percent from 4.1 percent. The ADB, meanwhile, lowered its forecast to 3.3 percent from 3.8 percent.
Luis Limlingan, head of sales at Regina Capital Development Corp., said the revisions, driven by a weaker-than-expected first half and persistent economic headwinds, added to concerns about the pace of the local market recovery.
Tepid trading
Negative spillovers from Wall Street also weighed on the local market as rising US Treasury yields weakened risk appetite.
Trading remained lethargic, with net value turnover reaching only P4.63 billion.
Foreign investors continued to pull funds out of the market, recording net outflows of P749.31 million.
Most sectoral indices closed lower. Conglomerates were the sole gainers, rising 0.43 percent.
Mining and oil suffered the steepest decline, plunging by 3.79 percent. Among index members, Ayala Corp. led the gainers, advancing 3.09 percent to P500 per share.
Manila Electric Co. was the session’s biggest index laggard, falling by 3.46 percent to P447 per share.
Analysts said the latest selloff extended the PSEi’s slide as investors assessed a weaker domestic growth outlook alongside elevated global borrowing costs.
Thin turnover and continued foreign selling also reflected cautious sentiment in the local market.