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PH blue chips included in regional exchange

Speedier Asean economic union seen

By Ronnel Domingo
Philippine Daily Inquirer
First Posted 21:30:00 04/14/2011

Filed Under: Markets & Exchanges, ASEAN, business

MANILA, Philippines?Thirty blue-chip stocks listed on the Philippine Stock Exchange are included in the 210 ?most exciting? stocks in the Asean Exchange, the newly launched common website of seven bourses in Southeast Asia.

These 30 Philippine stocks?mostly firms engaged in banking, real estate and utilities?are part of the so-called Asean Stars, a selection of the largest and most dynamic Southeast Asian firms that are in the league of world leaders in their respective sectors.

Other PSE-listed firms in the group are in the business of telecommunications, mining, industrial services, industrial conglomerates, transportation, consumer services, retailing, food and beverage, and food and drugs.

They include Lepanto Consolidated Mining Co.; Philex Mining Corp.; DMCI Holdings Inc.; Aboitiz Equity Ventures Inc.; Ayala Corp.; International Container Terminal Services Inc.; ABS-CBN Broadcasting Corp.; Jollibee Foods Corp.; SM Investment Corp.; JG Summit Holdings Inc.; Universal Robina Corp.; Banco de Oro Unibank Inc.; Bank of the Philippine Islands; China Banking Corp.; Metropolitan Bank & Trust Co.;

Alliance Global Group Inc.; Ayala Land Inc.; Filinvest Land Inc.; Megaworld Corp.; Robinsons Land Corp.; SM Prime Holdings Inc.; Globe Telecom Inc.; Philippine Long Distance Telephone Co.; Aboitiz Power Corp.; First Gen Corp.; First Philippine Holdings Corp.; Energy Development Corp.; Manila Water Co. Inc.; Manila Electric Co.; and Metro Pacific Investments Corp.

The Asean Exchange, a team-up of seven bourses from six members of the Association of Southeast Asian Nations was launched last April 8, representing 3,613 listed firms with total capitalization of some $1.98 trillion.

Meant to help regional integration by promoting the growth the Asean capital market, Asean Exchange is made up of the PSE and the stock exchanges of Indonesia, Malaysia, Singapore, Thailand and Vietnam.

The other six are the Indonesia Stock Exchange, Bursa Malaysia, Stock Exchange of Thailand, Singapore Exchange, and Vietnam?s Hochiminh Stock Exchange and Hanoi Stock Exchange.

The launch coincided with the wrap up of a meeting among Asean finance ministers held in Indonesia, which resulted in the officials? agreeing ?to work further on implementing the financial integration measures and to monitor the commitments already made.?



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