Manila: The Philippine peso strengthened for a fifth consecutive session on Wednesday, maintaining its rise to the 57-level after the holiday break, while the stock market saw another decline. The local currency closed at 57.86 against the U.S. dollar, improving upon Monday's 57.98 finish. Notably, there was no trading on Tuesday due to the Chinese New Year holiday.

According to Philippines News Agency, the peso opened at 57.94, trading within a range of 58.04 to 57.84, with an average of 57.94. The trading volume reached USD1.05 billion, increasing from USD896.5 million on Monday. Rizal Commercial Banking Corporation's chief economist, Michael Ricafort, indicated that the peso's gains were driven by expectations of another rate cut by the Bangko Sentral ng Pilipinas during Thursday's Monetary Board meeting. Ricafort highlighted that this closing was the strongest in nearly five months, since September 4, 2025, when it finished at 57.46.

Meanwhile, the Philippine Stock Exchange index (PSEi) dropped by 0.25 percent to 6,368.55, with the broader All Shares index decreasing by 0.93 percent to 3,527.29. The only sector to advance was Financials, which rose by 0.13 percent. The leading sector in losses was Industrials, which fell by 0.89 percent, followed by Mining and Oil at 0.80 percent, Property at 0.65 percent, Holding Firms at 0.21 percent, and Services at 0.16 percent. Trading volume was reported at 1.04 billion shares, valued at PHP5.27 billion, with decliners outnumbering advancers 140 to 79, while 51 issues remained unchanged.