I read on the Philippine Stock Exchange (PSE) website today that there is a current proposal among four (4) Southeast Asian countries to interconnect their stock markets.
According to the press release, the trading link which is expected to electronically interconnect the stock markets of the Philippines, Malaysia, Thailand and Singapore will most probably go live by the end of 2011.
It’s amazing how a simple 140-character tweet could help one unknown stock skyrocket in price. Of course, it helps if that post was twitted by a celebrity like rapper 50 Cent.
This was exactly what happened last week when 50 Cent’s tweets about a relatively unknown company — H & H Imports Inc. (HNHI) — sent the company’s stock price surging 290% in just one day.
Philippine stocks rallied again in 2010, with the Philippine Stock Exchange index (PSEi) closing at 4,201.14 during the last trading day on December 30, 2010 — up 37.6% from the closing index in 2009.
This means that a P100,000 stock investment at the start of 2010 is already worth P137,600 by the end of the year.
The year 2009 ended profitably for stock traders around the world. Although Philippine investors were already jubilant with the Philippine Stock Exchange‘s 63% gain in 2009, this was still just an “average” performance compared to the best-performing stock markets in the world.
After deferring the planned Initial Public Offering (IPO) twice, it’s now all systems go for Cebu Pacific (CEB) to issue its shares to the public.
In a statement submitted to the Philippine Stock Exchange (PSE), Philippine budget airline Cebu Pacific said it will list its shares on the exchange starting October 26.
The Philippine Stock Exhange (PSE) and online broker CitisecOnline.com have released a basic guide on how to invest in the Philippine stock market. This is good reading especially for those planning to join the stock market.
Globe Asiatique Realty Holdings Corp. (GA) submitted on September 6 a letter to the Philippine Stock Exchange (PSE) requesting to withdraw its P3.39 billion Initial Public Offering (IPO) slated this month.
Globe Asiatique cited as reason the resignation of BDO Capital and Investment Corporation as Issue Manager and Lead Underwriter. In its letter to the PSE, Globe Asiatique said BDO Capital did not talk to them about this decision and only knew of the latter’s resignation via a letter.
The Philippine stock market seems to be in a bullish trend again.
As of August 2010, the Philippine Stock Exchange index (PSEi) is up 20% year-to-date, that is, from January to August 2010. It may not be as high as the 2009 PSE performance of 63% full-year return, but it is a strong sign that things are looking up.
