The Market Monitor Minding the Nation's Business
By Riza Lozada
The Philippine Stock Exchange index (PSEi) composed of 30 blue chips will not see any changes based on the review covering the trading period from July 2016 to June 2017, the PSE said.
The PSEi, which is the Philippine stock market’s main index, is composed of the top 30 stocks that meet the qualifications of being a PSEi-member such as having a public float of at least 12 percent, and having passed the liquidity and market capitalization screening.
The six sectoral indices, on the other hand, will have changes in its constituents.
The Financials index will see the inclusion of Medco Holdings, Inc. and the exclusion of Philippine Business Bank. The Industrial index will have two new members, namely Cemex Holdings Philippines Inc. and Pilipinas Shell Petroleum Corporation while Da Vinci Capital Holdings, Inc. will be removed from the index.
Meantime, ATN Holdings Inc. and Lodestar Investment Holdings Corp will replace Filinvest Development Corp and Prime Orion Philippines Inc. in the Holding Firms index.
Arthaland Corp, Crown Equities Inc. and MRC Allied Corp will be added to the Property index.
Changes in the Services index consist of the inclusion of Apollo Global Capital Inc., Golden Haven Memorial Park Inc. and Harbor Star Shipping Services Inc. and the exclusion of DFNN Inc. and ISM Communications Corp.
Finally, three stocks will be removed from the Mining and Oil index, including Abra Mining and Industrial Corp, Atlas Consolidated Mining and Development Corp and Manila Mining Corp.
“All listed issues were reviewed to see how they performed against the index criteria. The result we have is a reflection of how the listed companies fared during the review period. Those that qualified for index inclusion are the stocks that best represent our market indices,” PSE President and CEO Ramon Monzon said.
The new index composition will take effect on September 11.