Manila: Local shares experienced a decline as investors maintained caution due to the ongoing Israel-Iran conflict, while the peso showed an increase in strength on the final trading day of the week.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) decreased by 0.27 percent, closing at 6,339.77. The All Shares index also saw a decline, falling by 0.49 percent to settle at 3,760.56. This downturn in the market reflects investor apprehension regarding the unresolved tensions between Israel and Iran, with concerns heightened by President Donald Trump's considerations of a possible US strike on Tehran, as noted by Luis Limlingan, head of sales at Regina Capital Development Corp.

Among the sectors, Mining and Oil achieved the most significant gain, rising by 5.34 percent. Conversely, the Property sector experienced the largest decline, dropping by 1.64 percent. The overall market activity included 67 gainers, 120 decliners, and 50 stocks that remained unchanged.

In the currency market, the peso demonstrated resilience by closing stronger against the US dollar. It ended the day at 57.17, improving from the previous day's closing rate of 57.45. The peso opened at 57.2 and fluctuated between 57.15 to 57.3 throughout the day, resulting in an average rate of 57.22. Meanwhile, the volume of trade witnessed a decrease, falling to USD1.77 billion from the earlier USD1.84 billion.