Philippine financial markets are expected to remain fragile this week, with investors bracing for continued volatility as risk aversion dominates sentiment and the benchmark index struggles to regain footing above key levels.
The Philippine Stock Exchange index (PSEi) slid 1.3 percent to 6,384.58, extending profit-taking for a second session after touching seven- to nine-month highs. Even so, the benchmark remains comfortably above the 6,000 mark, keeping the broader uptrend intact and suggesting the pullback is more consolidation than reversal.
Philippine equities held their footing above the 6,000 level as caution continued to dominate trading, with analysts balancing global headwinds against pockets of domestic resilience.
Philippine equities continue to show underlying strength despite the PSEi’s recent mild pullback, which analysts view as a natural bout of profit-taking after a sharp advance.
The benchmark Philippine Stock Exchange index (PSEi) could hit 7,800 points within the year as most of its 30-members have forecast earnings exceeding pre-pandemic levels.
Manulife Philippines has appointed seasoned legal executive Edgar Tordesillas as its new general counsel, strengthening its leadership team as the insurer sharpens its governance and risk management capabilities.
The Government Service Insurance System (GSIS) has expanded its Balik Ginhawa program to provide greater financial relief for members and pensioners, in line with the directive of President Ferdinand R. Marcos Jr. to deliver more responsive government services.
As organizations aggressively scale up artificial intelligence and advanced technologies, the necessity of internal audit has shifted from a routine compliance check to a critical strategic safeguard. A joint forum marking International Internal Audit Awareness Month—spearheaded by the Internal Audit Groups of PLDT Inc., Smart Communications, Inc., the MVP Group, and JG Summit Holdings—brought together industry leaders to address a pivotal corporate challenge: ensuring rapid technological systems work as intended without causing harm.
The Philippine Chamber of Commerce and Industry (PCCI) warned that the newly approved minimum wage increase in Metro Manila could fuel inflation, squeeze exporters and eventually dampen employment as businesses grapple with rising labor costs.