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Advocates Philippines
PH Stocks Slide As Mining And Oil Drag, Services Buck The Trend
Photo credit: PSEi
Philippine stocks fell on Monday, February 2, 2026, as losses in the mining and oil sector overshadowed gains in services.
The PSEi ended the day at 6,297.08, down 31.89 points or 0.50%, while the broader All Shares Index dropped 73.71 points to 3,509.52, a decline of 2.06%.
Sector performance was mixed. Financials lost 56.5 points (-2.63%), Industrial fell 53.96 points (-0.60%), and Property dipped 25.71 points (-1.17%). Holding Firms recorded a minor decline of 6.44 points (-0.13%).
In contrast, Services bucked the broader trend, gaining 37 points (+1.43%), reflecting investor confidence in consumer and service-related stocks.
However, the biggest drag came from Mining & Oil, which plunged 2,578.96 points, a steep 13.61% decline, largely due to global commodity price pressures and profit-taking by investors.
Market watchers noted that the sharp drop in mining and oil stocks weighed heavily on the overall market, despite pockets of strength in services.
Investors are expected to remain cautious this week as earnings reports and global commodity trends continue to influence sentiment.
The PSEi ended the day at 6,297.08, down 31.89 points or 0.50%, while the broader All Shares Index dropped 73.71 points to 3,509.52, a decline of 2.06%.
Sector performance was mixed. Financials lost 56.5 points (-2.63%), Industrial fell 53.96 points (-0.60%), and Property dipped 25.71 points (-1.17%). Holding Firms recorded a minor decline of 6.44 points (-0.13%).
In contrast, Services bucked the broader trend, gaining 37 points (+1.43%), reflecting investor confidence in consumer and service-related stocks.
However, the biggest drag came from Mining & Oil, which plunged 2,578.96 points, a steep 13.61% decline, largely due to global commodity price pressures and profit-taking by investors.
Market watchers noted that the sharp drop in mining and oil stocks weighed heavily on the overall market, despite pockets of strength in services.
Investors are expected to remain cautious this week as earnings reports and global commodity trends continue to influence sentiment.
Feb 2, 2026
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