Philippine stock market now down 22%
March 25, 2008
If you placed a million pesos in the Philippine stock market from the start of January 2008, you would have lost 9% in January alone. If you remained invested until today, that million pesos is now worth only P780,000 – a 22% loss.
That is based on the performance of the Philippine Stock Exchange index (PSEi), a basket of 30 listed common stocks representing the overall movement of market prices and the general state of the Philippine economy.
The PSEi on March 20 closed at 2,817.58, a 22.2% decline from its original value at the start of the year.
A lot of stock traders and investors of equity mutual funds and unit investment trust funds are losing money because of this global economic downturn.
PMT Forum member lowbatt99 mentioned that his P600,000 peso equity UITF investment is now valued at only P471,000.
GoodSteward shared that after just a month of investing in an equity UITF this year, his holdings have already incurred a 10% paper loss.
Are your investments losing as well? Share your stories in the discussion thread Who is hurting during this downturn?