By Emily Blanc
MANILA – The Philippine stock market posted gains on Thursday even as the peso continued to weaken against the US dollar, marking its sixth consecutive day of decline.
The main Philippine Stock Exchange index (PSEi) rose by 1.15 percent to close at 6,380.53 points, while the All Shares Index advanced by 1.16 percent to 3,525.99.
All major sectors finished higher, led by Mining and Oil with a 1.92-percent increase. Services followed at 1.87 percent, Industrial at 1.32 percent, and Financials at 0.91 percent.
Property stocks grew by 0.71 percent, while Holding Firms recorded a 0.43-percent gain.
Trading activity totaled 1.91 billion shares with a market value of PHP6.3 billion. Advancers dominated decliners, 125 to 72, while 59 stocks ended unchanged.
Meanwhile, the peso weakened to 58.63 per US dollar from its previous close of 58.57.
The local currency opened stronger at 58.40 and briefly appreciated to 58.33 before losing momentum and settling lower by the end of the session. The day’s average exchange rate was recorded at 58.46.
Foreign exchange trading volume reached USD1.57 billion, slightly lower than the USD1.77 billion logged in the previous session.
Michael Ricafort, chief economist at Rizal Commercial Banking Corporation, attributed part of the movement in the foreign exchange market to the rise in domestic inflation.
Inflation accelerated to 2.4 percent in February 2026 from 2 percent in January, but still falls within the government’s target range of 2 to 4 percent.
Ricafort also warned that the continuing conflict in the Middle East could further push inflation higher due to rising oil prices that may affect the cost of various commodities.
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