Main index, year to date, decreased 7.29 percent

The Philippine Stock Exchange Inc. (PSE) recorded a 75.00 percent surge in total capital raised from the sale of primary and secondary shares and warrants to P144.14 billion in 2025 from P82.37 billion raised in the previous year.

The PSE had two initial public offerings (IPO) in 2025 which include Top Line Business Development Corp. and Maynilad Water Services Inc. Other capital raising activities conducted this year included eight follow-on offerings and 14 private placements.

PSE index closed at 6,052.92 points, down by 12.72 points or 0.21 percent. Year to date, the main index decreased by 7.29 percent.

Positive yields

Despite the decline in the main index, the Exchange’s two other key benchmarks delivered positive yields. Year-on-year, the PSE MidCap and PSE DivY indices increased by 20.17 percent and 2.37 percent, respectively.

Daily average value turnover for the year was at P7.33 billion, up by 20.10 percent from 2024’s P6.10 billion average. Domestic market capitalization at yearend declined by  6.29 percent to P13.65 trillion compared with P14.57 trillion in 2024.

The market registered P51.78 billion worth of net foreign selling in 2025.

In terms of sectoral indices, the  Mining & Oil index emerged as the best performer in 2025 as it climbed by 92.34 percent. This was followed by the Services sector.

‘The decline is not just about numbers’

“The PSEi’s decline this year is not just about numbers — it’s about trust and confidence. The corruption scandal, the deteriorating Peso and the disappointing GDP performance for the third quarter have clouded our economy’s outlook and triggered persistent selling by foreign investors in the market this year,”  said PSE president and CEO Ramon S. Monzon.

“Having said that, there are a lot of positives to look forward to in 2026. Earnings of listed companies are poised to continue growing, making valuations and dividend yields quite attractive. Looming changes in REIT rules and IPO float requirements should result in more listings,” he added.

On a hopeful note, Monzon stressed, “If our government succeeds in its drive to hold the corrupt accountable and institute real and lasting improvements in transparency and governance, our market should be one of the best-performing markets in the region next year.”