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


  • How other faiths observe Holy Week
  • No noise, partying in Boracay on Good Friday
  • More legal woes for Cedric Lee
  • NATO ups military presence amid Russian threat
  • DOH issues official statement on confirmed case of MERS-CoV
  • Sports

  • Tenacious Iran frustrates Qatar to retain Asian Club volleyball crown
  • Floyd Mayweather is ESPN’s top-paid athlete
  • Pistorius trial: Judge sets 2-week adjournment
  • China, Taiwan rout foes for 3rd, 5th places in Asian Club volleyball
  • Ginebra’s new import Freeman arrives, makes PBA return vs ROS
  • Lifestyle

  • Are your favorite malls open this Holy Week break?
  • Celebrate Easter Sunday at Buddha-Bar Manila
  • Moriones feast: A slow, steady transformation
  • Weaving ‘palaspas’ a tradition kept alive in Tayabas City
  • Finalists announced for best translated books
  • Entertainment

  • Filipino rock icons to hold silent concert
  • Mommy Dionisia Pacquiao’s greatest hits
  • Deniece Cornejo posts bail—report
  • Miley Cyrus hospitalized, cancels US concert
  • Otaku Summer Jam 2014: Summer’s hottest J-rock/Cosplay event
  • Business

  • Russian economy hit by Ukraine turmoil
  • PSEi firms up ahead of Lenten break
  • I-Remit teams up with Lakhoo for remittances from Oman
  • Megawide nets P1.4 B in 2013
  • Longer TRO sought on rate hike
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • We may never know
  • Couple of things
  • Mommy D’s magic
  • Stop bizarre and bloody Good Friday rituals
  • Holy Week taboos
  • Global Nation

  • Netizens welcome Japan’s visa-free travel plan
  • Visa-free travel by Filipinos to Japan still a proposal
  • Visa-free travel to Japan could boost tourism
  • 2 PCG men ordered arrested over Balintang Channel shooting
  • US Embassy closed on Holy Thursday, Good Friday
  • Marketplace