Philippine stocks rise, peso weakens in first trading day of 2026

Philippine stocks climbed on Friday, the first trading of the year, as broad-based gains lifted the benchmark index, while the peso weakened as support from seasonal remittances during the holiday season faded.

The local stock barometer, the Philippine Stock Exchange index (PSEi) gained 82.14 points or 1.36% to 6,135.06 at the closing bell. The broader All Shares index grew by 43.81 points or 1.26% to 3,517.05.

"The PSEi moved higher in the first trading session of the year. Buying pressure was seen across the board throughout the day. Additionally, the release of positive PMI figures for December helped renew investor confidence, supporting optimism for economic growth," Regina Capital Development Corp. head of sales Luis Limlingan said in a mobile message.

The headline S&P Global Philippines Manufacturing PMI stood at 50.2 in December, above the 50.0 threshold that separates expansion and contraction. It also reflects an improvement from the 47.4 recorded in November, which posted the steepest drop since August 2021.

Most sectoral indices of the stock exchange traded higher—financials by 47.12 points or 2.30% to 2,095.59; industrial by 152.47 points or 1.77% to 8,773.06; holdings firms by 110.94 points or 2.32% to 4,898.60; property by 32.70 points or 1.44% to 2,308.84; and mining and oil by 463.02 points or 3.07% to 15,522.82.

Services was the only index that ended in the red, down by 24.01 points or 1.01% to 2,354.53.

More than 444.174 million shares, valued at P4.356 billion, changed hands. Advancers led decliners, 146 to 65, while 64 issues were unchanged.

The Philippine peso shed 5.1 centavos to close Friday at P58.841:$1 from P58.79 on December 29, 2025.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the peso's weakness on Friday reflected the fading of seasonal overseas remittance inflows, alongside bargain buying by importers and other market participants with dollar demand.

Ricafort also noted the reenacted budget in the first few days of the year, as President Ferdinand "Bongbong" Marcos Jr. has yet to sign the general appropriations act (GAA) for 2026.

Executive Secretary Ralph Recto earlier said Marcos was expected to sign the bill outlining the P6.793-trillion national budget for 2026 in the first week of January, adding that a one-week reenacted budget will not affect government operations. — VDV, GMA Integrated News