Philippine stocks plunge as oil exceeds $100

PHILIPPINE SHARES tumbled on Monday, snapping a two-month recovery as the escalating Middle East war and surging oil prices spooked investors.

The Philippine Stock Exchange index (PSEi) fell 4.97% or 314.19 points to 6,006.22, its lowest close since Dec. 19, 2025 at 5,920.87. The broader all-share index dropped 4.24% or 148.24 points to 3,346.75.

“The Philippine market declined sharply amid escalating tensions in the Middle East, which dampened investor sentiment and risk appetite across global markets,” Luis A. Limlingan, head of sales at Regina Capital Development Corp., said in a Viber message.

“Oil prices also surged above $100, raising inflation concerns and the risk of tighter monetary policy,” he added.

Japhet Louis O. Tantiangco, research manager at Philstocks Financial, Inc., said local investors were also reacting to the peso’s weakness.

“The spike in oil prices and the depreciation of the peso are expected to pose upside risks to inflation,” he said via Viber.

Oil prices jumped more than 25% on Monday to levels last seen in mid-2022, driven by production cuts from major producers and fears of prolonged disruptions near the Strait of Hormuz, a critical shipping lane for roughly 20% of global oil.

The crisis comes after US and Israeli strikes on Iranian targets, with Tehran retaliating against energy infrastructure.

The peso dropped to a fresh low of P59.50 against the dollar, extending last week’s 50-centavo decline and breaking the previous record of P59.46 set on Jan. 15, according to Bankers Association of the Philippines data posted on its website.

All sectoral indexes closed in negative territory. Holding firms slumped 5.93% to 4,624.42; property fell 5.11% to 2,020.16; mining and oil lost 4.76% to 17,325.37; financials dropped 4.76% to 1,928.07; services declined 4.28% to 2,701.62; and industrials retreated 4.01% to 8,634.66.

“Every index member was down, with Century Pacific Food, Inc. at the bottom, plunging 11.11% to P32,” Mr. Tantiangco said.

Decliners beat advancers 205 to 28, with 41 unchanged. Value turnover rose to P11.08 billion on 2.54 billion shares traded, up from P7.66 billion on 1.66 billion shares on Friday.

Net foreign selling surged to P1.58 billion from P229.7 million in the previous session. — A.G.C. Magno