PSE among top 3 marts in 2012

MANILA, Philippines - The Philippine Stock Exchange (PSE) emerged as one of the world’s top performing markets that posted significant growth in domestic market capitalization last year.

In the 2012 Market Highlights report released by the World Federation of Exchanges, PSE ranked third among 50 of its member exchanges.

The local bourse posted a 38.9-percent surge in its 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 and CEO Hans B. Sicat.

“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,” Sicat added.

The 2012 Market Highlights also ranked PSE as the third best following the 25.3 percent uptick in turnover value, next only to Saudi Stock Exchange and the Bermuda Stock Exchange.

PSE also grabbed the fourth spot in terms of expansion in number of trades while securing the fifth place in the increase in broad market index for 2012.

The PSE index (PSEi), was the second best performing benchmark index in Asia last year, next only to the 36.3 percent climb of Thailand’s SET index.

In 2011, PSE bagged high rankings against other stock exchanges worldwide after 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 figured among the top performing markets again in 2012 across all the same growth metrics.

“This just shows that our growth has been sustainable particularly as it founded on the increased economic activity in the country,” Sicat said.

Sicat said the outlook is bright for this year as PSE conducts new programs and introduce new products to maintain the growth momentum.

The benchmark PSEi yesterday succumbed to gloomy sentiments as Wall Street posted a hefty decline on Monday.