Philippine financial markets closed lower on Thursday, March 19, 2026, as investor sentiment remained cautious amid global geopolitical tensions and a weakening peso.

The Philippine Stock Exchange Index (PSEi) declined by 0.61%, closing at 6,018.62, after trading within a volatile range throughout the session. The index opened lower at 5,993.87, dipped to an intraday low of 5,934.68, and briefly touched a high of 6,018.62 before settling at the close.

The broader All Shares Index also fell by 0.56% to 3,344.87, reflecting overall market weakness across sectors.Trading activity remained relatively steady, with total volume reaching approximately 1.88 billion shares and value turnover around ₱10 billion, including block trades.

‍Currency Performance

‍The Philippine peso weakened sharply during the session, breaching the ₱60-per-dollar level for the first time on record.

Intraday trading saw the currency fall to around ₱60.30–₱60.40 per US dollar, before recovering slightly toward the close, with levels hovering near ₱59.84–₱59.94.

The move reflects sustained pressure from strong US dollar demand and external macroeconomic factors, reinforcing the peso’s depreciation trend in recent weeks.‍

Key Drivers‍

Market movements were largely driven by external developments, particularly escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran.

The conflict has raised concerns over potential disruptions to global oil supply, particularly through critical routes such as the Strait of Hormuz. As a result, oil prices have risen, increasing cost pressures for import-dependent economies like the Philippines.

Higher energy costs have intensified inflation concerns and weighed on investor sentiment, contributing to both equity market declines and currency weakness.

Additional pressure came from a stronger US dollar environment and broader declines across Asian markets, reflecting a global risk-off mood.

Investor behavior remained cautious, with the PSEi continuing to trade within the 6,000–6,100 range seen throughout March.

While the market posted a modest recovery in the previous session, the latest decline underscores ongoing volatility driven by global developments. Analysts note that sustained oil price increases and geopolitical uncertainty continue to limit upside momentum in Philippine equities.

Data compiled from the Philippine Stock Exchange, Bangko Sentral ng Pilipinas, and reporting from major financial outlets including BusinessWorld, Inquirer Business, Bloomberg, Reuters, and Trading Economics.

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