PSE named Southeast Asia's best stock exchange again
MANILA, Philippines – The Philippine Stock Exchange (PSE) was named the best bourse in Southeast Asia by institutional investment magazine Alpha Southeast Asia, citing its investments, literacy initiatives, products launched, and technology developments, among others.
This is the 4th time in 5 years that the PSE has been recognized as the best stock exchange in Southeast Asia by the magazine.
"The Philippine Stock Exchange stands apart given its continuing investments in its internal systems to facilitate the upside potential the country now represents after years in the shadows of its neighbors," Alpha Southeast Asia said, as announced by the PSE in a statement on Sunday, January 7.
Investment products that the PSE launched in the past months include dollar denominated securities (DDS) as well as listing for public-private partnership (PPP) firms.
There were 3 follow-on DDS offerings in 2017 – two by Del Monte Pacific Limited and one by Cirtek Holdings Philippines Corporation.
"Our accomplishments in 2017 would not have been possible without the hard work of the PSE team and the support of our regulators and various stakeholders. We will continue to do our best to fulfill our vision of becoming a world-class exchange," said PSE president and chief executive officer Ramon Monzon.
The Marquee Awards of Alpha Southeast Asia also noted the upbeat prospects for the PSE this year.
"The upside for PSE remains high as it has the strongest potential for growth in 2018 given the solid economic fundamentals of the country as the global economic outlook improves and investors return to what is increasingly known as the safest haven in Asia with improving investment prospects for foreign and institutional investors," the magazine's statement reads.
The PSE index (PSEi) closed at record highs daily during the first 3 trading days of 2018. (READ: Philippine stocks break 8,700 level to open 2018)
Last Friday, January 5, the PSEi closed at 8,770.00 points, higher by 30.17 points or 0.3%. On the same day, the index broke past the 8,800 level and rose to a new all-time intraday high of 8,858.07 points.
The PSEi has gained 2.5% since January 3.
Total capital raised in the market in 2017 amounted to P163.35 billion.
Four firms were listed in the market last year – Wilcon Depot Incorporated, Eagle Cement Corporation, Cebu Landmasters Incorporated, and Chelsea Logistics Holdings Corporation.
The PSE's award will be conferred during the Marquee Awards event of Alpha Southeast Asia on February 13 in Kuala Lumpur, Malaysia. – Rappler.com