Shares slump as Middle East tensions weigh on sentimentThe benchmark Philippine Stock Exchange index declined for third straight session, finishing 0.86 percent or 52.39 points lower to 6,006.55. MANILA, Philippines — The local stock market opened a shortened trading week just slightly above the 6,000 mark, with investors staying on the sidelines as soaring oil prices and Middle East tensions continued to weigh on sentiment. The benchmark Philippine Stock Exchange index declined for third straight session, finishing 0.86 percent or 52.39 points lower to 6,006.55. “The local market extended its decline to a third straight day as investors continue to worry over the war at the Middle East and its local economic repercussions,” Philstocks Financial research manager Japhet Tantiangco said. The Philippine Stock Exchange Inc. has announced that there will be no trading on Friday in observance of Eid’l Fitr (Feast of Ramadan).

Source: Philippine Star March 16, 2026 16:48 UTC