PSEi down ahead of Q3 2026 GDP release | ANC

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The World Tonight: Global stock markets extended their selloff toward the end of the week, with Asian equities posting steep losses amid concerns over potential artificial intelligence regulations following the U.S. midterm elections. A gauge of regional equities recorded its biggest single-day decline since U.S. President Donald Trump's so-called Liberation Day tariff announcement in April 2025. The losses followed an overnight selloff on Wall Street, which wiped out around 2.5 trillion dollars in market value from the Nasdaq. Philippine shares also ended lower on Friday, tracking losses across the region. The benchmark Philippine Stock Exchange index slipped 0.3% as investors positioned themselves ahead of the release of the country's third-quarter gross domestic product figures on Monday. Cristina Ulang, head of research at First Metro Investment Corporation, said weak household spending and subdued investments, partly due to governance concerns, could weigh on economic growth. She expects third-quarter growth to be comparable to or lower than the previous quarter, although seasonal spending during the holiday period could provide a boost in the fourth quarter. Ulang also said investors remain mindful of broader economic challenges, including unemployment and inflation, despite some positive market sentiment following developments in the U.S. elections. In corporate earnings, DMCI Holdings reported a 15-billion-peso net income for the first nine months of the year, up 28% from the same period last year. The diversified conglomerate attributed the increase to record earnings from its nickel mining and power generation businesses. It also reported improved performance in its real estate and construction segments, while narrowing losses in its cement unit. Converge ICT Solutions, meanwhile, posted 34 billion pesos in revenues from January to September, driven largely by growth in its residential business. The company also cited stronger enterprise revenue...