Directors and officers of the Philippine Stock Exchange (PSE) led the bell ringing ceremony to officially close trading for 2019.
PSE Chairman Jose T. Pardo said, “I hope that everyone will draw inspiration and optimism from our accomplishments this year as we work together and do more for the development of the capital market in 2020.”
On the last trading day of the year, the Philippine Stock Exchange index (PSEi) closed lower by 27.02 points or 0.3 percent to close at 7,815.26 points. Year to date, the main index gained 4.7 percent.
The All Shares index was also higher year to date as it ended at 4,649.67 points, up by 2.9 percent. Four sector indices finished in positive territory. The Property index was up the most with a gain of 14.5 percent. The Services index ended higher by 6.1 percent while the Financials and Holding Firms indices rose 4.7 percent and 3.4 percent, respectively. The Industrial and Mining and Oil indices saw losses this year and were down by 12.0 percent and 1.3 percent, respectively.
“The PSEi still had a decent finish despite the hefty decline in the share price of index stocks in the water distribution business. We hope that the issues concerning their sector will soon be resolved to lessen market jitters,” PSE President and CEO Ramon S. Monzon said.
The local bourse’s market capitalization registered a 3.0 percent increase to Php13.95 trillion.
Daily average value turnover for the year came in at Php7.29 billion, up from the Php7.15 billion average in 2018. The market registered Php14.50 billion worth of net foreign selling versus the Php61.01 billion net foreign selling in 2018.
For the year, total capital raised amounted to Php95.22 billion, around half of the Php187.84 billion raised in 2018.
“The capital raising number this year was affected by issuers’ opting to tap the bond market or postponing their fund raising plans. Also, two banks accounted for 60 percent of the capital raised in 2018 and we did not have similar big deals this year. We hope next year’s capital raising pipeline will be more robust,” Mr. Monzon explained.
For 2020, the PSE hopes to receive regulatory approval to launch short selling and Real Estate Investment Trust as well as introduce the new sector classification.
Shown in photo (from left): PSE Director Alejandro T. Yu; Luys Securities Company, Inc. Vice President Aurora Shih; PSE President and CEO Ramon S. Monzon; PSE Chairman Jose T. Pardo; Securities Clearing Corporation of the Philippines COO Renee D. Rubio and PSE Controllership and Treasury Division Head Roberto Jose R. Jimenez#