How PSEi member stocks performed — October 21, 2025
Here’s a quick glance at how PSEi stocks fared on Tuesday, October 21, 2025.
PSEi up on bargain hunting after three-day drop
THE MAIN INDEX rose slightly on Tuesday on bargain hunting following its three-day slide, backed by positive momentum from Wall Street overnight.
The Philippine Stock Exchange index (PSEi) rose by 0.15% or 9.46 points to close at 6,093.53. Meanwhile, the broader all shares index dropped by 0.11% or 4.07 points to end at 3,657.85.
“The market ended in the green after three consecutive days of losses, driven by bargain hunting among investors,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message. “However, sentiment remains cautious as the Philippine peso continues to depreciate against the US dollar, while the country’s balance of payments (BoP) narrowed in September.”
The peso weakened by 5.5 centavos to close at P58.225 against the dollar on Tuesday from Monday’s finish of P58.17, Bankers Association of the Philippines data showed. This was its worst showing in over a week.
Meanwhile, the country’s BoP position was at an $82-million surplus in September, shrinking from the $3.526-billion surfeit in the same month a year ago, the central bank reported on Monday.
This helped narrow the country’s end-September BoP deficit to $5.315 billion. However, this was a reversal from the $5.117-billion surplus posted in the same period last year.
“The local market bounced back from a three-day decline as bargain hunting prevailed. The positive cues from Wall Street helped in Tuesday’s rebound,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
Wall Street stocks moved sharply higher on Monday with technology shares providing much of the upside muscle, as generally upbeat quarterly earnings results helped revive investor risk appetite, Reuters reported.
The Dow Jones Industrial Average rose 554.28 points or 1.20% to 46,745.63; the S&P 500 gained 78.61 points or 1.19% to 6,743.00; and the Nasdaq Composite gained 343.37 points or 1.52% to 23,023.62.
Back home, most sectoral indices closed in the red on Tuesday. Mining and oil sank by 2.95% or 429.85 points to 14,112.61; holding firms dropped by 0.64% or 31.44 points to 4,874.01; property decreased by 0.25% or 5.72 points to 2,254.32; and financials went down by 0.1% or 2.19 points to 2,044.12.
Meanwhile, services rose by 1.09% or 25.21 points to 2,324.29, and industrials increased by 0.38% or 33.96 points to 8,964.54.
Decliners outnumbered advancers, 127 to 84, while 47 names closed unchanged.
“JG Summit Holdings, Inc. was the day’s index leader, climbing 3.75% to P24.90. LT Group, Inc. was the index’s worst performer, dropping 3.77% to P14.28,” Mr. Tantiangco said.
Value turnover went up to P5.24 billion on Tuesday with 1.31 billion shares traded from Monday’s P3.65 billion with 1.86 billion shares changing hands.
Net foreign buying was at P231.58 million on Tuesday, a reversal of the P118.81 million in net selling on Monday. — Alexandria Grace C. Magno with Reuters
Plunder raps filed vs ex-President Duterte, senator over infra contracts
By Erika Mae P. Sinaking
FORMER SENATOR Antonio F. Trillanes IV on Tuesday filed a plunder complaint before the Office of the Ombudsman against former President Rodrigo R. Duterte and Senator Christopher Lawrence “Bong” T. Go over nearly P7 billion worth of public works contracts in the Davao Region, allegedly benefiting construction firms owned by the senator’s family.
In the complaint, Mr. Trillanes said the projects were awarded to CLTG Builders and Alfrego Builders, which are owned by Mr. Go’s father and brother, respectively.
He flagged an alleged P816-million joint venture between CLTG Builders and Discaya-owned St. Gerrard Construction, which is among the 15 contractors that cornered P100 billion out of the P545 billion worth of public works rolled out since 2022.
“The evidence here consists of the contracts themselves, which came directly from the DPWH (Department of Public Works and Highways),” he told reporters after filing the case.
According to him, CLTG and Alfrego Builders cornered approximately P6.95 billion in government infrastructure projects from 2016 up to the present.
When asked why Mr. Duterte was included among the respondents, the former lawmaker said, “It was Duterte who signed and approved [the contracts].”
In a Viber message, Salvador S. Panelo, former spokesperson and legal counsel of Mr. Duterte, described the complaint as “yet another publicity stunt,” but clarified he is not speaking for the former president; while Harry L. Roque, also a former spokesman of Mr. Duterte, did not immediately respond to a Viber message seeking comment.
In a separate briefing, Mr. Go on Tuesday said that he is open to cooperating in the investigation of the Office of the Ombudsman, dismissing Mr. Trillanes’ complaint as a “diversionary tactic.”
“I have been expecting this complaint, and we are now in the proper forum to prove that baselessness of his allegations. I now have the opportunity to answer him point by point before the Ombudsman,” he told reporters in a news briefing. “I will cooperate with the investigation and abide with by its legal processes.”
“This is a diversionary tactic to mislead the public to the true issues,” Mr. Go added, noting the multibillion-peso flood control scandal.
The senator also alleges that Mr. Trillanes has ties with the contractors involved in the corruption scheme.
“You are barking at the wrong tree,” he said. “If you really are serious, why don’t you file charges against those who are corrupt? You don’t want to pursue them because they are your financier.”
Mr. Go also claims that the former senator has “rehashed” the same issue against him since 2018.
DPWH Secretary Vivencio B. Dizon had earlier said the department and Ombudsman Jesus Crispin C. Remulla started investigating the possible links between the Discayas and CLTG Builders.
Mr. Go denied the allegations, saying he did not know the Discayas and had nothing to do with them.
The plunder complaint cites alleged violations of the Plunder Law (Republic Act No. 7080), the Anti-Graft and Corrupt Practices Act (Republic Act No. 3019), and the Code of Conduct for Public Officials (Republic Act No. 6713).
Copies of the complaint would also be given to the Independent Commission for Infrastructure (ICI) for their records.
Mr. Trillanes described Mr. Go as the “main plunderer,” citing the alleged role of his family members and his close relationship with the former president.
He noted it is widely known that Mr. Duterte and Mr. Go are tightly connected.
FROM DOJ TO OMBUDSMAN
Mr. Trillanes filed criminal charges against Mr. Duterte, Mr. Go and the senator’s relatives in July 2024 before the Department of Justice (DoJ), accusing them of funneling around P6.6 billion in contracts from 2007 to 2018 to CLTG Builders and Alfrego Builders & Supply.
At the time, he argued that the firms consistently won major projects despite limited capacity and unfinished obligations, facilitated by Mr. Go’s access to Mr. Duterte and the executive branch (which oversees budget approval and oversight over agencies including the DPWH).
The Office of the Ombudsman under Samuel R. Martires dismissed the DoJ-referred complaint in June 2025.
The renewed filing points to the continuation of Mr. Trillanes’ legal campaign against Mr. Duterte and Mr. Go, reflecting a shift from DoJ filings — which Mr. Trillanes had chosen in 2024 for its broader access to verify documentation from agencies such as the DPWH, Department of Trade and Industry, and Commission on Audit — to direct action with the Ombudsman.
The total value of contracts in both complaints far exceeds the P50-million threshold required to meet the Anti-Plunder Act’s provisions. — with Adrian H. Halili
Public outrage over flood control mess exposes PHL to propaganda, says navy
By Kenneth Christiane L. Basilio, Reporter
PUBLIC OUTRAGE over large-scale corruption in flood control projects could leave the Philippines vulnerable to foreign-backed propaganda seeking to provoke unrest and destabilize the country, a Philippine Navy official said on Tuesday.
It remains unclear whether China is behind efforts to spread disinformation to agitate and stir up turmoil, but the Philippine military has observed propaganda waged by some groups encouraging retired officers to destabilize its ranks, Rear Admiral Roy Vincent T. Trinidad, Philippine Navy spokesman for the South China Sea said.
He did not name those behind the campaign, saying he is awaiting “developments from the legal side.”
“When you erode social cohesion… as a group, you make it easier for foreign influence to come in,” Mr. Trinidad told reporters on the sidelines of a media briefing at the Philippine military headquarters.
The Philippines has been rocked by a flood control scandal involving hundreds of billions of pesos, and has so far implicated politicians, engineering officials and contractors as having ties to anomalous infrastructure deals.
Reports of a possible military coup against President Ferdinand R. Marcos, Jr. last month circulated on social media as thousands of Filipinos took to the streets in the biggest protest in years over the multibillion-peso flood control scandal.
“There was an attempt to sow disinformation, to twist the truth, to use malign influence in order to agitate some of our military retirees, eventually to organize them and even mobilize them against the Armed Forces of the Philippines,” Mr. Trinidad said.
Disinformation thrives and is often turbocharged during times of crisis as people try to make sense of unfolding events and find ways to express their emotions, said Karl Patrick R. Mendoza, associate professor at the Polytechnic University of the Philippines’ Department of Communication Research.
“When emotions run high, people don’t just process information — they feel it,” he said in a Facebook Messenger chat. “In moments of crisis or scandal, like this multibillion flood control controversy, the public seeks moral coherence and someone to trust.”
“It’s not that the public is irrational; it’s that emotions and belonging shape how truth is received, especially when faith in institutions has already eroded,” he added.
Mr. Trinidad said that disinformation “is the same tool being used by the Chinese Communist Party in the West Philippine Sea,” referring to parts of the South China Sea within Manila’s 200-nautical mile exclusive economic zone.
The Chinese Embassy in Manila did not immediately reply to a Viber message seeking comment.
China has said it does not meddle in the internal affairs of other countries.
Beijing claims nearly all of the South China Sea via a 1940s nine-dash line map that overlaps with the exclusive waters of the Philippines and neighbors like Vietnam and Malaysia despite a 2016 ruling by the Permanent Court of Arbitration in The Hague that voided its claims.
The government must invest in information and communications technologies to strengthen digital systems and help Filipinos become more digitally literate, said Chester B. Cabalza, founding president of Manila-based think tank International Development and Security Cooperation.
“Disinformation because of ignorance welcomes… the infiltration of sleeper cells due to weak information technology and AI literacy,” he said in a Facebook chat.
In April, former Senator Francis N. Tolentino said that a local marketing firm was allegedly involved in spreading pro-Beijing narratives ahead of the May midterm elections, presenting documents that China hired it to provide “keyboard warriors” to influence public opinion.
‘CLEAN THE RANKS’
Meanwhile, President Ferdinand R. Marcos, Jr. on Tuesday reaffirmed his administration’s commitment to purge corruption and restore integrity in public service, saying institutional reform remains central to rebuilding public trust in government.
Speaking at the awarding of the 2025 Metrobank Foundation Outstanding Filipinos in Malacañang, Mr. Marcos said the government is determined to “clean the ranks” of the bureaucracy to ensure that every official and civil servant is deserving of the people’s confidence.
“We will continue cleansing the ranks of government to ensure that every official and public servant is worthy of the trust given to them by the people,” he said in Filipino, as his administration continues a probe into alleged corruption in flood control projects.
The President acknowledged that recent controversies have tested the public’s faith in institutions but said reform efforts would continue despite political and bureaucratic challenges.
“It will be hard and sometimes it will be painful, but it will be worth it because what we are fighting for is a country that our children will inherit,” he said.
The Philippines’ flood control scandal involves allegations of ghost projects, inflated contracts, and substandard infrastructure in projects worth billions of pesos, implicating public officials and contractors in widespread corruption.
The Marcos administration has launched multiple investigations and vowed to reform the bureaucracy to restore public trust in government institutions.
Mr. Marcos pointed to the ten Metrobank Foundation honorees — composed of four teachers, three soldiers, and three police officers — as proof that “integrity still lives in our institutions.”
He described them as models of public service who embody the Bagong Pilipinas vision of governance built on honor and accountability.
As the awards program marks its 40th year, he praised the Metrobank Foundation and its partners — PSBank and the Rotary Clubs of New Manila East and Makati Metro — for continuing to “serve as a beacon of integrity and inspiration” in recognizing exemplary Filipinos. — with Chloe Mari A. Hufana
56% say food prices, inflation should top gov’t concerns
A MAJORITY of Filipinos want President Ferdinand R. Marcos, Jr. to focus on lowering food prices amid persistent inflation, according to a new Social Weather Stations (SWS) survey commissioned by the Stratbase Group.
The report, which surveyed 1,500 respondents nationwide from Sept. 24 to 30, showed that 56% of Filipinos believe reducing the price of rice and other food items should be the government’s top priority.
About 31% urged the administration to address corruption, underscoring public frustration over rising concerns about transparency in governance amid a multibillion-peso public works scam. Only 7% of respondents cited education as a top priority, and 4% mentioned healthcare, while 3% were undecided.
“This survey highlights the urgent reality that Filipinos are still struggling to afford basic food,” Stratbase Group President Victor Andres C. Manhit said in a statement on Tuesday.
“The more they cannot afford the price of basic food like rice, the more they will ask for concrete reforms on corruption — issues that the President himself has flagged to the Filipino public.”
The SWS findings also revealed regional variations, with inflation concerns being most pronounced in the Visayas and Mindanao as cited by 61% of respondents.
Rural residents were also more likely than urban dwellers to identify inflation as a primary concern, reflecting the uneven impact of rising prices across areas.
Economic pressures were compounded by official data showing headline inflation in the Philippines accelerated to 1.7% in September — the fastest pace in six months — driven by costlier vegetables and fuel amid weather-related supply disruptions, according to the Philippine Statistics Authority.
This comes despite inflation remaining below the Bangko Sentral ng Pilipinas’ 2-4% target range.
National Statistician Claire Dennis S. Mapa earlier said the uptick in prices was expected, citing lingering effects of July’s typhoons and flooding that continued to push up vegetable costs through September.
The typhoon-prone country continues to grapple with weather-related supply shocks that have disrupted agricultural production and pushed up food prices, particularly vegetables and rice.
Such conditions have kept inflationary pressures elevated despite government efforts to stabilize supply and expand importation.
Meanwhile, calls to curb corruption were strongest in Metro Manila, where 45% of respondents ranked it as their leading concern.
Stratbase said the results signal a demand for “responsive leadership that delivers both concrete economic outcomes and clean governance,” adding that the administration should recalibrate its policies to ease the cost of living while ensuring transparency and accountability.
Corruption issues are hounding the Philippines following Mr. Marcos’ pronouncements during his fourth State of the Nation Address last July, where he exposed lawmakers receiving alleged kickbacks from flood control projects. — Chloe Mari A. Hufana
BoC, LTO to tighten import rules on luxury vehicles
THE Bureau of Customs (BoC) and the Land Transportation Office (LTO) on Tuesday agreed to form a joint task force aimed at imposing a stricter importation policy on luxury vehicles.
“This mutual cooperation with the LTO reinforces out shared goal of ensuring transparency, efficiency, and strict compliance with customs laws and other government regulations,” BoC Commissioner Ariel F. Nepomuceno said in a statement on Tuesday.
The memorandum of agreement, signed in the LTO Central office in Quezon City, seeks to safeguard the public by helping deter fraudulent practices and protecting government revenues.
The two agencies will form a joint task force to crack down on unlawfully imported vehicles, including those misclassified or misdeclared in violation of the Customs Modernization and Tariff Act.
The initiative will also streamline data sharing for key vehicle documents such as certificates of payment, registration, and official receipts.
This comes amid the government’s corruption crackdown, which has led to the seizure of luxury vehicles owned by contractors and Public Works officials who allegedly diverted funds from flood control projects.
At the signing event, the LTO turned over a seized Lamborghini Urus of a Korean national to the Customs.
LTO Chief Assistant Secretary Markus V. Lacanilao said the vehicle was imported by the same dealer of some luxury cars, seized from the Discaya family.
Mr. Nepomuceno said the Discayas were given until Oct. 23 to submit documentation papers for the 13 confiscated luxury vehicles, which will be auctioned and expected to generate up to P220 million.
“We are targeting by Nov. 15, provided that Secretary Ralph G. Recto approves this. We will auction the 13 vehicles,” he said, noting that many private bidders are interested.
Meanwhile, 17 vehicles remain in government custody as Bureau of Internal Revenue and the Independent Commission for Infrastructure (ICI) investigate the source of funds used by the Discaya family to acquire the fleet.
ALMOST P2-BILLION SUNWEST FACILITIES
In a separate briefing, Mr. Lacanilao said three projects located in the LTO compound, worth nearly P2 billion awarded to Sunwest Inc. since 2021, were found to be “underutilized” despite being completed.
This includes the Information Technology (IT) Hub and Road Safety Interactive Center which cost around P500-million each, and the Central Command Center worth P946 million.
“It was supposed to be a dormitory. But it’s not even clear. Then they added some IT stuff that’s kind of questionable,” he said in Filipino when asked about the intended function of the buildings.
Mr. Lacanilao said these findings occurred after an internal review after he assumed office. One of the buildings was stripped out of its IT equipment, while the command center, which answers public concerns, was previously flagged by the Commission of Audit for being underutilized.
“We’re prepared to bring this up to the ICI and the Ombudsman because the President’s directive was really to look into what might be wrong or improperly regulated,” he said.
Former Ako Bicol Party-list Representative Elizaldy S. Co, who founded Sunwest is also in the center of the multibillion-peso flood control scandal, which triggered the creation of the ICI and parallel probes by Congress, Ombudsman and tax authorities. — Aubrey Rose A. Inosante
Palace: Recto resignation ‘not true’
MALACAÑANG on Tuesday belied online rumors circulating regarding the resignation of Finance Secretary Ralph G. Recto.
“Not true,” Palace Press Officer Clarissa A. Castro told reporters via Viber when asked if Mr. Recto stepped down as Finance chief.
Mr. Recto has come under fire for opposing proposals to lower the value-added tax (VAT), arguing it would weaken government revenues.
The controversy deepened amid a corruption scandal involving alleged kickbacks between Department of Public Works and Highways officials and lawmakers.
He admitted that up to P118.5 billion is lost annually to corruption in flood control projects.
Meanwhile, Ms. Castro also announced that President Ferdinand R. Marcos, Jr. has appointed Scientist Gay Jane P. Perez as officer-in-charge of the Philippine Space Agency (PhilSA), following the resignation of Director General Joel S. Marciano, Jr.
Ms. Perez, a faculty member at the University of the Philippines-Diliman’s Institute of Environmental Science and Meteorology, is recognized for her pioneering work in satellite remote sensing and environmental monitoring. — Chloe Mari A. Hufana
Lacson to return as Blue Ribbon chair
SENATE PRESIDENT Vincente “Tito” C. Sotto on Tuesday confirmed that Senator Panfilo “Ping” M. Lacson is set to return as head of the Blue Ribbon Committee.
When asked if Mr. Lacson will return to chair the committee, Mr. Sotto said: “Yes.”
“In the course of our many conversations, it has come to his (Sen. Ping) attention regarding the clamor of some of our colleagues and the public that he retakes the committee,” he told reporters via Viber.
Mr. Lacson earlier resigned as the committee chair, noting criticism from fellow senators on his handling of the chambers probe on anomalous flood projects.
“Some senators publicly and secretly pursue the narrative that I am zeroing in on several of my colleagues while purportedly protecting those members of the lower house perceived to be the principal actors in the budget anomalies related to the substandard and ghost flood control projects,” Mr. Lacson said in his resignation letter.
The senator had earlier stated that his return as committee chair may trigger another change in the Senate’s leadership.
The Senate is investigating irregularities in multibillion-peso flood control projects, following reports that lawmakers and officials received kickbacks from infrastructure funds allocated since 2022. — Adrian H. Halili
DMW inaugurates Hungary office
THE PHILIPPINES’ Department of Migrant Workers (DMW) inaugurated its first overseas labor office in Budapest, Hungary, as part of efforts to expand government support for overseas Filipino workers (OFWs) across Europe.
The office, unveiled last Oct. 18, was established to unify and streamline services for Filipino workers abroad, the department said in a statement on Tuesday.
“We opened more than just doors; we opened a new chapter of service, compassion, and commitment,” Migrant Workers Secretary Hans Leo J. Cacdac said during the ceremony, calling the Budapest branch “a true home” for OFWs in Central Europe.
Situated near the Hungarian Parliament building, the new labor office will serve as a hub for providing welfare assistance, labor protection, and employment facilitation for Filipinos working in Hungary and nearby European countries.
The facility is the DMW’s first overseas office since its creation in 2022, fulfilling President Ferdinand R. Marcos, Jr.’s directive to strengthen institutional support for the Filipino diaspora.
Mr. Cacdac said the office embodies the government’s push to deliver “compassionate, efficient, and integrity-driven service” to migrant workers, who remain a crucial driver of the Philippine economy through their remittances.
Europe hosts about 200,000 Filipino OFWs, according to the Philippine Statistics Authority’s data for 2023.
The Bangko Sentral ng Pilipinas reported record remittances overall in 2023 with $37 billion, of which $3.8 billion came from Europe. — Chloe Mari A. Hufana
DoJ wraps up cockfighters case
THE Department of Justice (DoJ) panel of prosecutors on Tuesday wrapped up its preliminary investigation into the disappearance of 34 cockfighting enthusiasts, with the case now submitted for resolution that could pave the way for trial.
Senior Assistant State Prosecutor Charlie L. Guhit, who heads the investigating panel, said the move came after complainants opted not to file replies to the respondents’ counter-affidavits. “The panel declared that the preliminary investigation is already submitted for resolution,” Mr. Guhit told reporters in an interview.
He added that prosecutors will decide whether to dismiss the complaints or elevate them to court. The charges include kidnapping with serious illegal detention and multiple murder.
A total of 57 out of 62 respondents filed counter-affidavits, among them businessman Charlie “Atong” Tiu Hay Sy Ang, actress Gretchen C. Barretto, and retired Police General Jonnel C. Estomo.
DoJ spokesperson Raphael Niccolo L. Martinez said the case will be resolved under DoJ Circular No. 15, noting that prima facie evidence has been established or “a higher quantum of evidence than probable cause.”
Ongoing search and retrieval operations by the Philippine National Police and the Philippine Coast Guard in Taal Lake have so far yielded 981 skeletal pieces, of which 887 have been confirmed as human bones, while the rest remain under assessment.
Mr. Martinez said DNA test results remain pending but stressed that these are not required for the case to advance. “It would be premature to delay. The panel has a clear case based on the evidence at hand,” he said.
Whistleblower Julie “Dondon” Patidongan expressed confidence that justice will eventually prevail. “We all know who the mastermind is. That’s all,” he said. — Erika Mae P. Sinaking
Navy, Air Force to get P783-M bonus
THE Department of Budget and Management (DBM) has authorized the release of P783.4 million in performance-based bonuses for personnel of the Philippine Navy, Philippine Air Force, and the National Intelligence Coordinating Agency (NICA).
In a statement on Tuesday, the DBM said the funds, issued through separate Special Allotment Release Orders (SARO), cover fiscal year 2023 bonuses under the Performance-Based Incentive System.
Budget Secretary Amenah F. Pangandaman said the release reflects the government’s recognition of the agencies’ role in safeguarding national security, often “with great risk and sacrifice.”
Of the total, P421.99 million will go to 25,821 qualified officials and employees of the Navy, who will receive bonuses equivalent to 48.75% of their monthly basic salary as of end-December 2023, the DBM said.
The DBM issued the corresponding SARO on Oct. 17.
On the other hand, the DBM also released P342.5 million for more than 19,800 qualified Air Force personnel and P18.8 million for nearly 900 NICA employees, both equivalent to 52% of their monthly basic salary as of December 2023. — Aubrey Rose A. Inosante
BuCor: 50% of prisoner deaths due to congestion
THE BUREAU of Corrections (BuCor) on Tuesday said that about 50% of persons deprived of liberty (PDL) deaths in correctional facilities were caused by congestion.
BuCor Director General Gregorio Pio P. Catapang, Jr. confirmed this upon Senator Sherwin T. Gatchalian’s questioning during the agency’s budget hearing.
“The health of prisoners is really a problem,” he told the panel, noting the agency is moving PDLs to correctional facilities outside of Metro Manila as part of its decongestion efforts.
He added some prisoner deaths were caused by the spread of tuberculosis cases in correctional facilities.
In the same hearing, the Finance Committee, led by Mr. Gatchalian, deferred budget deliberations for the Public Attorney’s Office (PAO) due to the absence of its chief prosecutor.
PAO Chief Persida V. Rueda-Acosta could not attend the hearing due to an “official travel abroad.”
“We will defer the budget of the PAO today. We will request from them a date that is convenient and a date that will enable (Ms.) Acosta to come here to the Senate to present her budget personally,” he said.
Mr. Gatchalian added that the chamber requires all agency heads to present their budgets.
“This has been the practice for many years and across numerous budget briefings,” he added. “In fact, many agency heads have had to cancel trips to present their budgets personally.” — Adrian H. Halili