Latest Stories

PH stock exchange ends 2012 with a bang; analysts see more ‘fireworks’ in 2013


Photo from pse.com.ph

MANILA, Philippines — Philippine stocks soared to greater heights for the fourth straight year in 2012, rising by about 33 percent for the year on favorable local macroeconomic and corporate performance and ahead of the government’s attainment of a much-coveted investment grade rating.

On the last trading day of the year, the main-share Philippine Stock Exchange index gained 17.84 points or 0.31 percent to close at 5,812.73.

“Market ended the year way above our expectations. We closed today with a loud bang. It’s a vote of confidence of investors for market’s sustained performance next year,” said Astro del Castillo, managing director at investment management firm First Grade.

“No doubt that we will continue to hear a lot of fireworks for 2013,” Del Castillo added.

While the performance during the last trading session for 2012 was aided by window-dressing, the stock market has been performing well for most of the year.   In fact, the index has been on an upswing since 2009, coming out of the Wall Street-epicentered global financial crisis in the previous year.

For the whole year, the local bourse remained one of the best performing in the region as it gained 1,440.77 points from the end-2011 closing of 4,371.96.  It closed at new record highs 38 times during the year.

The yearend close was not too far from the record finish of 5,832.83 posted last Dec. 26.  The intra-day peak was hit at 5,866.83 last December 3.

Elsewhere across the region, stock markets were mostly higher on hopes that the US would strike a last-minute budget deal to avoid a fiscal cliff – a series of tax increases and drastic spending cuts feared to push the US economy back into a recession in 2013.

At the local market, value turnover for the day amounted to P7.87 billion, buoyed by yearend window-dressing.  There were 101 advancers versus 83 decliners while 35 stocks were unchanged.

The biggest index gainers for the day were URC (+3.52 percent), JGS (+2.6 percent), Semirara (+2.37 percent), SMC (+2.33 percent), ALI (+1.73 percent), AGI (+1.58 percent), FGEN (+1.36 percent), EDC (+1.2 percent) and AC (+1.17 percent). BDO, SMIC, MWC and AP also contributed most gains.

On the other hand, JFC, SM Prime, Globe, RLC, PLDT, BPI, DMCI, Meralco, Megaworld and Belle fell on profit-taking during the last trading day.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Busines , Markets and Exchanges , Philippine Stock Exchange , Stock Market

  • blainz

    38 record high for the year. Wow, this could be a record in itself!

    I wonder what the close for the end of 2013 would be – if the Philippines gets upgraded to an investment rating, as it seems likely, it can easily surpass 7,000.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Ukraine FM: We are ready to fight Russia
  • Slain officer’s ‘diagram’ rocks PNP
  • 2 contractors fined P25,000 for delays in Edsa rehab
  • Luisita beneficiaries take over renters
  • 5 years of hard work pay off for top UP grad
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • A brand for life
  • Wear a rainbow on your wrist
  • Wearing Kate Moss
  • Sail into summer
  • Life lessons from the Ultimate Warrior
  • Entertainment

  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • OMB exec’s assurance: We work 24/7
  • Business

  • Gaming stocks gain, PSEi eases on profit-taking
  • Cebu Pacific flew 3.74M passengers as of March
  • Corporate bonds sweeteners
  • Professionals in the family business
  • Foreign funds flowed out in Q1, says BSP
  • Technology

  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Afghan hospital guard kills 3 American doctors
  • Career diplomat is new PH consul general in Los Angeles
  • US4GG: Aquino should ask Obama for TPS approval, drone technology
  • Complex health care system for California’s elderly and poor explained
  • Tiff with HK over Luneta hostage fiasco finally over
  • Marketplace