Philippine financial markets are heading into the week on a cautious footing as renewed threats by Iran to potentially close the Strait of Hormuz inject fresh volatility into global oil supply expectations and inflation outlooks, according to Rizal Commercial Banking Corp. chief economist Michael Ricafort.
The Philippine stock market is navigating a mixed outlook as the PSEi contends with renewed foreign selling, offset partially by improving domestic investor sentiment and anticipated foreign inflows into the local bond market.
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.
The Department of Trade and Industry (DTI) has opened a P2.41 million coconut oil processing facility in Tangub City, Misamis Occidental, in a bid to help local farmers capture more value from their harvests and expand the province’s coconut-based industries.
MediCard has launched MedGo, a digital healthcare platform designed to streamline member services, with automated processing reducing approval times for certain medical authorizations to less than three seconds.
Duty Free Philippines has opened a store at Bohol-Panglao International Airport, expanding retail options for eligible international travelers as the airport operator seeks to strengthen commercial services and support the province’s tourism industry.
Passengers traveling through Ninoy Aquino International Airport Terminal 2 can now access expanded food and shopping choices following the official launch of new establishments at the North Wing departure airside. The addition provides travelers with more places to eat, rest, and make last-minute purchases after passing through security.