Philippine stocks slipped on Wednesday as renewed hostilities between the United States and Iran dampened hopes for a lasting peace deal, according to BusinessWorld. The Philippine Stock Exchange index (PSEi) edged down by 0.07% or 4.35 points to close at 5,941.36, while the broader all shares index fell by 0.62% or 20.77 points.
The decline came after reports of fresh US airstrikes on Iranian targets, reversing earlier optimism over a potential ceasefire. Investors pulled back from risk assets, with property and mining sectors leading the retreat. Analysts noted that geopolitical uncertainty continues to weigh on the local bourse, which has been struggling to sustain gains above the 6,000 level.
Trading volume was thin as foreign funds remained net sellers, reflecting cautious sentiment ahead of US economic data releases. Market participants are now monitoring any further developments in US-Iran relations, which could dictate short-term market direction.