Electronic boards for PSE data up soon

Local stock market data will soon be seen on various electronic boards in Metro Manila as part of the Philippine Stock Exchange’s efforts to increase investor awareness on the equities market.

PSE president Francis Lim said Globaltronics Inc., a leading supplier of electronic boards, has agreed in principle to let the exchange display for free various data such as the daily Philippine composite index (Phisix).

Globaltronics is one of the country’s leading supplier of electronic programmable display and scoring system. It supplied the electronic boards inside the De La Salle campuses in Greenhills and Manila. Its electronic boards are also very visible in Ayala, Alabang and SM Megamall.

The PSE had earlier agreed to install an outdoor ticker tape along Ayala Ave. in the financial district of Makati in order to enhance public awareness on investing in the stockmarket.

Lim said the exchange will continue to focus on boosting market activity in terms of expanding market breadth, liquidity and depth.

"We will also continue to strengthen governance and market integrity measures through the newly-created market integrity board," Lim earlier said.

The PSE will work with mainstream and cable television networks to broadcast stock market information during trading hours. It will also study the feasibility of having a dedicated cable channel for real-time information.

Despite a weakening performance from its peak in early March, the Philippine stock market remained the best performing bourse in Asia with the main index growing 9.2 percent in dollar terms.

Based on stock prices as of May 11 this year, the PSE composite index maintained its lead among its Asian counterparts since January based on dollar terms. On second place was South Korea, which grew 3.1 percent followed by Indonesia (5.8 percent), Singapore (4.6 percent) and Thailand (2.2 percent).

In terms of pesos, however, the Philippine stock market ranked second to Indonesia which gained 5.8 percent compared with the former’s 5.4 percent.

Four exchanges, on the other hand, posted declines namely, Malaysia (1.5 percent), Taiwan (3.6 percent), Hong Kong (2.1 percent) and India (2.7 percent).

Lim said the local stock market has been on a consolidation phase since early March due to the delay in the passage of the expanded value-added-tax law, the tightening of domestic liquidity owing to a string of initial public offerings, rights issues and share placements and the threat of increase in interest rates in both the local and foreign markets.

He added the recent approval of the VAT bill by the bicameral committee should be a major boost for the economy as "it vanquishes a looming fiscal crisis."