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Philippine bourse eyes increased trading this year

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January 2, 2025
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Philippine bourse eyes increased trading this year
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PHILIPPINE STAR/KRIZ JOHN ROSALES

THE PHILIPPINE Stock Exchange, Inc. (PSE) expects stronger trading and capital-raising activities this year.

“At the PSE, we are always optimistic and hopeful, and this year is no exception,” PSE President and Chief Executive Officer Ramon S. Monzon said in a statement on Thursday. “We look forward to a more robust trading year and better capital-raising performance.”

“Our team will continue to work towards ticking off more items in our three-year strategic plan, which are initiatives that will contribute to the development of the local capital market and help us catch up with our peers in the region,” he added.

The PSE earlier said it expects companies to raise P120 billion in capital including from six initial public offerings (IPO) this year. Last year, capital raised on the bourse fell 42% to P82.37 billion from a year earlier.

The market had three IPOs by OceanaGold (Philippines), Inc., Citicore Renewable Energy Corp. and NexGen Energy Corp.

Mr. Monzon earlier said the economic policies of US President-elect Donald J. Trump would likely drive Philippine stocks in 2025.

“One of the investment considerations at this time is the direction of economic policies of the new US administration,” he said. “An outcome favorable to the Philippines may help spur foreign buying and create the market condition listing applicants are waiting for.”

The benchmark PSE index ended 2024 at 6,528.79, 1.2% or 78.75 points higher than its 2023 finish.

On the first trading day of 2025, the PSEi gained 0.33% or 21.60 points to 6,550.39, while the broader all-share index added 0.17% or 6.59 points to 3,755.1. — Revin Mikael D. Ochave

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