PSEi slips as peso weakens, foreign outflows persist

The Philippine Stock Exchange index (PSEi) fell on Tuesday, losing 0.19 percent to close at 6,128.89 as investors digested fresh signs of a slowdown in the local manufacturing sector.

The decline followed the latest S&P Global Philippines Manufacturing PMI report, which showed weaker factory activity. Market sentiment was further weighed down by the peso’s depreciation and lingering concerns over infrastructure bottlenecks, particularly in flood control projects.

Foreign investors extended their selling streak, with net outflows hitting P368.84 million. Trading remained muted, with net value turnover reaching only P5.21 billion.

By sector, miners led the market higher with a 2.50 percent gain, while banks lagged with a 0.79 percent decline. Market breadth leaned negative as decliners outnumbered advancers, 111 to 84.

Meanwhile, the peso weakened sharply, closing at 57.51 against the US dollar, down from the previous day’s 57.16, according to the Bankers Association of the Philippines.