Philippine stocks slip 0.57% on weak economic outlook and corporate earnings

The Philippine Stock Exchange index fell 0.57% to 5,660.55 on Thursday as investors grew cautious over BMI's downgraded GDP growth forecast of 2.6%. All sectoral indices closed lower, with mining and oil posting the steepest decline of 3.91%.

Philippine stocks declined further on Thursday, 12 Nov 2026, as sentiment stayed weak on growing concerns over economic prospects and listed companies' financial results. The Philippine Stock Exchange index (PSEi) dropped by 0.57 per cent or 32.65 points to close at 5,660.55, while the broader all shares index decreased by 0.78 per cent or 24.86 points to 3,175.76.

The PSEi opened Thursday's trading at 5,684.84, lower than Wednesday's close of 5,693.20. It reached an intraday high of just 5,685.71, while it sank to as low as 5,611.20. All sectoral indices closed in the red. Mining and oil sank by 3.91 per cent to 746.93 points; industrials dropped by 1.78 per cent or 133.42 points to 7,343.88; holding firms shed 0.76 per cent or 33.38 points to end at 4,363.69; services fell by 0.37 per cent or 10.26 points to 2,774.13; financials retreated by 0.25 per cent or 4.62 points to 1,839.26; and property slipped by 0.05 per cent or 0.82 point to 1,792.85.

“The local bourse declined on Thursday as investors remained cautious amid the ongoing release of corporate earnings and BMI’s downward revision of its Philippine economic growth forecasts,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message. “The weaker growth outlook further weighed on market sentiment, prompting investors to reassess their positions amid concerns over the country’s economic trajectory.”

BMI said it now sees Philippine gross domestic product growing by 2.6 per cent this year after a dismal third-quarter performance, slower than its earlier projection of 3 per cent. GDP growth slowed to another post-pandemic low of 2.1 per cent last quarter, putting the year-to-date average at 2.5 per cent versus the government’s 3.5 per cent to 4.5 per cent full-year target.

COL Financial Group, Inc. Research Analyst Denise Joaquin said the market ended lower as investors continued to weigh third-quarter corporate earnings and the results of the November MSCI rebalancing. Decliners overwhelmed advancers, 131 to 41, while 62 names ended the session unchanged. Value turnover rose to P7.52 billion on Thursday with 844.660 million shares traded, up from P6.08 billion with 939.4 million issues on Wednesday. Net foreign buying rose to P328.57 million from P55.36 million in the previous session.

Meanwhile, global stocks tumbled on Thursday, led by losses in chipmakers and data centre operators as Nvidia shares cratered in after-hours trading on news that its board may oust longtime Chief Executive Officer Jensen Huang, Reuters reported. An 8.8 per cent plunge in Nvidia shares in extended trading reverberated across Asian markets, weighing on S&P 500 e-mini futures, down 0.5 per cent, and triggering broad losses in chip stocks. Taiwan’s benchmark index tumbled 2.6 per cent and South Korea’s Kospi fell 0.9 per cent, dragging the MSCI Asia-Pacific ex-Japan index down 1.2 per cent. Japan’s Nikkei 225 sank 0.9 per cent.