MANILA — The Philippine peso strengthened against the US dollar on Monday, November 11, while the local stock market slipped as investors remained cautious following weaker-than-expected economic growth in the third quarter of 2025.

The peso closed at the 58-level, improving from Friday’s 59.04 close. It traded between 58.79 and 59.07, with an average of 58.93 and a trading volume of USD1.38 billion, up from USD1.21 billion last week.

Meanwhile, the Philippine Stock Exchange index (PSEi) fell 0.99 percent to 5,702.64 points, and the All Shares index dropped 0.46 percent to 3,498.43 points. Only the Mining and Oil sector posted gains, rising 7.19 percent. The services sector recorded the steepest decline at 1.36 percent, followed by Financials (-1.34%), Property (-0.78%), Holding Firms (-0.48%), and Industrial (-0.32%). Total trading volume reached 1.86 billion shares worth PHP6.96 billion, with decliners outpacing advancers 100 to 85, and 56 shares unchanged.

Luis Limlingan, head of sales at Regina Capital Development Corporation, said the market “ended lower despite cheaper valuations following the release of the GDP figures.”

Economic data showed gross domestic product (GDP) growth slowed to 4 percent in the third quarter, down from 5.2 percent in the same period last year and 5.5 percent in the previous quarter. The slowdown was attributed to declining business and consumer confidence amid governance concerns.

“Investors remain cautious about entering the market as concerns over macroeconomic conditions persist. In addition, more firms are releasing their earnings, contributing to the overall mixed sentiment in the market,” Limlingan added. (PNA)