Philippine stocks hit 35th record high at 5,763.34


Photo from

MANILA, Philippines—The local stock market soared to its 35th record-high this year as yield-seeking investors flocked to equities in search for higher yields given historically low interest rates.

The main-share Philippine Stock Exchange index rallied by 75.92 points, or 1.33 percent, to close at 5,763.64, its best level in history.

“Euphoric sentiment, driven by the conducive macro outlook, strong foreign inflows, and record low 10-year Philippine bond yields are driving the market to all time highs,” said Mark Angeles, head of research at First Metro Securities.

During last Tuesday’s primary auction of long-term Philippine government debt, yield on 10-year Treasury bonds dropped to an all-time low of 4 percent per annum, sliding by 75 basis points from the previous record seen three months ago.

“The strong rally, however, has now stretched multiples, making the Philippines one of the most expensive equity markets in Asia,” Angeles said.

The analyst noted that the Philippine stock market’s trailing price-to-earnings (P/E) ratio based on MSCI Philippines has reached 18.5x. Trailing P/E ratio for the PSEi is about 19.2x, according to Angeles.

A trailing P/E ratio of 19.2 times means that investors are paying 19.2 times the amount of money that they made in the market for the last 12 months.

Index heavyweight PLDT (+2.76 percent) was the day’s most actively traded stock.   PLDT, the most valuable company in the stock exchange, has a 12.52 percent weight on the PSEi.

The index was also led higher by Megaworld (+4.85 percent), BDO (+3.95 percent), Globe (+2.94 percent), RLC (+2.79 percent), AP (+2.74 percent), AEV (2.72 percent),URC (+2.21 percent), AC (+2.16 percent) and Metrobank (+2.12 percent).

Value turnover was high at P11.45 billion. There were 103 advancers versus 72 decliners while 38 stocks were unchanged.

All counters jumped but the biggest beneficiaries were the services (+1.72 percent), financial (+1.27 percent) and property (+1.14 percent) counters.

Joseph Roxas, president of Eagle Equities Inc., said President Aquino predicted during the PSE’s 20th anniversary celebration Monday night that the main index may hit 6,000 in 28 days.  “This leaves only 25 days,” he said.

At the same time, the local stock market usually ends each year on a strong note given the seasonal “Santa Claus” rally in December. For this year in particular, investors are taking position given upbeat prospects for 2013.

Click here for prices of stocks

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • japokjackpot

    bull run? most listed companies’ profits at record highs? why can’t they expand from their core businesses, invest and then create more JOBS so that growth can be felt? to name a few i.e SM, Puregold, Jollibee, SMC, Ayala is doing good for the economy, what about the other players?

  • lagalag

    Just learn and invest on stock exchange….para huwag kayo mainggit. I started investing only last June 2012 and my 1.5 million pesos already earning 125k, not bad instead of putting my money on bogus scam.

    I encourage you people,by 5k monthly you can invest on stock exchange.

    • Chris

      mganda MEG ngaun. also buy on weakness – SMC at DMC.

      • lagalag

        Thanks for the info,.Meron akong Meg  and 14 other companies,diversifying. So far my porfolio is doing good.

        Now its really fun to invest in stock.

  • Fred Mil

    Pnoy si really screwing up the economy…. of the mangnanakaws and tamad

  • samuel

    Whos says we cant make it to 6000 marks at the end of the year? he he he he.. all time high everyday.

  • oh_noh

    itong mga hinayupak na ito ang mga nakikinabang sa ganda “daw” ng ekonomiya!!!!

    • Chris

      hahaha.. poor miserable thing..

      • oh_noh

        ulul, ikaw ang miserable dahil sa mahal ng mga bilihin dyan sa pinas :P

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


editors' picks



latest videos