The Philippine Stock Exchange (PSE) was the third best performer among the 50-member exchanges of the World Federation of Exchanges in 2012.
Based on the 2012 Market Highlights report released by the WFE, the PSE was ranked third after it posted a 38.9 percent expansion in market capitalization last year, outpaced only by the stock exchanges in Turkey and Thailand.
“Ranking among the top markets around the world is a feat which I think all Filipinos can be proud of as we are pitted against the best of the best markets in these global rankings,” said PSE President Hans B. Sicat.
He noted that “this is a testament to what we have been saying that the Philippines is now indeed in the global radar for investments and these numbers prove our worth as a viable investment destination.”
In the WFE report, the 25.3 percent growth in the PSE’s value turnover last year was also the third best after the Saudi Stock Exchange and the Bermuda Stock Exchange.
The PSE also claimed the fourth post in terms of expansion in number of trades and registered the fifth highest increase in broad market index for 2012.
In 2011, the PSE likewise posted impressive rankings against other stock exchanges worldwide as the growth rates of its broad market index, domestic market capitalization and trading turnover ranked first, third and fourth, respectively, among 51 exchanges globally.
Among the top performers in 2011, only the PSE made it to the list of top performing markets again in 2012 across all the same growth metrics.
“For two consecutive years, our stock market has been recognized among the fastest growing markets. This just shows that our growth has been sustainable particularly as it founded on the increased economic activity in the country,” said Sicat.
He added that “we are excited about the outlook in 2013 as we also undertake new programs and introduce new products in our stock market to keep the growth momentum in the coming years.”
(Story courtesy of the Manila Bulletin’s James Loyola)