The benchmark Philippine Stock Exchange Inc. (PSEi) index closed barely unchanged at 6,566.39 points during the last trading day of the year last Thursday, down by mere 0.15 points from the previous day’s trade. Know more:
THE benchmark Philippine Stock Exchange Inc. index closed barely unchanged at 6,566.39 points during the last trading day of the year last Thursday, down by mere 0.15 points from the previous day’s trade. Year to date, the main index decreased by almost 8 percent.
The market registered P67.95 billion-worth of net foreign selling versus the P2.75 billion net foreign selling in 2021. Despite the lower capital raised figure, the PSE had nine initial public offerings this year, the most number of IPOs in a single year since 2007. Other capital raising activities conducted this year included one listing by way of introduction, five stock rights offerings and 12 private placements in 2022.PSE President and CEO Mr. Ramon S. Monzon said they still consider 2022 “a banner year in terms of the number of IPOs and we look forward to continuing the listing momentum in 2023.
He expressed optimism that the stock market can bounce back in 2023 as the global economy continues to open up and corporate earnings return to pre-pandemic growth levels. “While risks from geopolitical tensions, higher inflation and increasing interest rates remain, the Philippines has shown its resiliency through better-than-expected GDP [gross domestic product] growth during the previous quarter, which we hope will carry over for the fourth quarter and in 2023,” Monzon said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Challenging 2022 trading year ends; index closes in the redThe country’s benchmark Philippine Stock Exchange index (PSEi) sputtered on the last trading day of 2022, capping off a challenging year for stock market investors with another red session and an annual drop of 7.8 percent. | miguelrcamusINQ /PDI
Read more »
PSEi moves sideways as market waits for leads - BusinessWorld OnlineSTOCKS moved sideways on Wednesday due to a lack of fresh leads and with some investors picking up bargains as they stay on the sidelines. The benchmark Philippine Stock Exchange index (PSEi) inched up by 1.64 points or 0.02% to close at 6,566.54 on Wednesday, while the broader all shares index rose by 7.91 points […]
Read more »
Main index ends flat ahead of key economic data - BusinessWorld OnlineTHE MAIN INDEX closed almost flat on Thursday after Wall Street declined and on window dressing as investors wait for the release of key economic data. The bellwether Philippine Stock Exchange index (PSEi) inched down by 0.15 point to close at 6,566.39 on Thursday, while the broader all shares index rose by 12.71 points or […]
Read more »
PH shares lackluster amid economic woesThe benchmark Philippine Stock Exchange index was little changed on Wednesday amid another low-volume session while PLDT Inc. and Converge ICT Solutions Inc. saw strong gains. | miguelrcamusINQ /PDI
Read more »
Col. Samson named acting commander of Philippine Army’s 303rd Infantry Brigade in Negros OccidentalThe Philippine Army’s 303rd Infantry Brigade in Negros Occidental has a new commander.
Read more »
PH, China to ink deal to prevent 'miscommunications' in West Philippine Sea issueThe Philippines and China are expected to sign a deal that aims to prevent "miscalculations and miscommunications" regarding the West Philippine Sea, an official from the Department of Foreign Affairs (DFA) said Thursday.
Read more »