PSE cites President Aquino’s leadership for market’s ascent to 8,000
The Philippine Stock Exchange (PSE) commended the leadership of President Benigno S. Aquino III for helping increase investor confidence in the economy and contribute to the rise of the PSEi to the 8,000 level.
To celebrate the PSEi’s climb to 8,000, the Exchange had a special bell ringing ceremony led by President Aquino. Also in attendance were key government officials and listed company executives.
The PSEi closed above 8,000 mark for the first time on April 6, 2015. It has since reached an all-time record high of 8,127.48 on April 10.
In his welcome remarks during the event, PSE Chairman Jose T. Pardo said, “At the 8,000 point level, the index is giving returns just this year of already more than 10 percent. It is interesting to note that the unprecedented ascent to 8,000 comes with other remarkable market indicators.”
Mr. Pardo cited the brisk trading activity in the first quarter of 2015 which soared by 40 percent from the same period a year ago. He also mentioned that in the first three months of the year, total market capitalization of listed firms rose by 18 percent to P14.98 trillion from the same period in 2014 and that foreign funds registered a net buying of P48.87 billion in the January to March period, a 182 percent increase year-on-year. There was also an increase in local investor participation as they accounted for 53 percent of trading activity in the first quarter of the year.
“This can only mean one thing, confidence in the economy under your leadership, Mr. President”, Mr. Pardo stated.
Shown in the photo (L-R) RCBC President and CEO Lorenzo V. Tan; SEC Commissioner Antonieta F. Ibe; Bank of the Philippine Islands President Cezar P. Consing; Capital Markets Integrity Corporation President Cornelio C. Gison; JG Summit Holdings, Inc. President and COO Lance Y. Gokongwei; GSIS President and General Manager and PSE Director Robert G. Vergara; SEC Chairperson Teresita J. Herbosa; DTI Secretary Gregory L. Domingo; DOF Secretary Cesar V. Purisima; His Excellency Benigno S. Aquino III; PSE Chairman Jose T. Pardo; PSE Director Eusebio H. Tanco; BDO Unibank Chairperson Teresita T. Sy; PSE President and CEO Hans B. Sicat; Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala; San Miguel Corporation President and COO Ramon S. Ang; PSE Directors Vivian Yuchengco, Amor Iliscupidez and Anabelle Chua; Metro Pacific Investments Corporation President and CEO Jose Ma. K. Lim; PSE Director Emmanuel O. Bautista and Filinvest Development Corporation Chairman Jonathan T. Gotianun.
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