The PSEi, or the Philippine Stock Exchange index, is a collection of thirty (30) stocks traded in the Philippine Stock Exchange (PSE) whose overall performance is generally seen as a barometer of Philippine economic and business conditions.
The PSEi’s value is important because its fluctuations could signal positive or negative sentiment on the financial performance of the 30 companies included in the index. Outlook on the 30 PSEi companies is a proxy for the overall sentiment on the Philippine economy.
First, let’s discuss how companies can become part of the PSEi. Then down below, you’ll see the PSEi’s latest stock components in 2019.
Factors Considered to be Included in the PSEi
The PSE generally looks at three (3) inclusion criteria when deciding which stocks to include in the PSEi. These 3 criteria are:
1. Free Float — refers to the “public float” or minimum public ownership of the company. Specifically the PSE requires all publicly traded stocks to have at least 15% free float, which means the general public must own at least 15% of the company’s outstanding stocks.
2. Liquidity — refers to the “daily value turnover” or the number of stocks traded (bought and sold) during a given time period. To be included in the PSEi, the stock must belong to the top 25% by median daily value turnover per month for at least nine (9) in the last 12 months.
3. Full Market Capitalization — measured by the stock price multiplied by the number of shares of stocks publicly traded. A PSEi stock component must be one of the highest-ranked market capitalization (MCAP) in the PSE.
The PSE regularly reviews the PSEi stock composition twice every year, in February and in August.
In the February 2019 review of the PSEi, oil refinery company Petron Corp. (PCOR) was removed from the index and was replaced by Bloomberry Resorts Corp. (BLOOM).
Here’s the most recent and updated list of the 30 PSEi stock components as of February 2019.
2019 PSE index (PSEi) Stock Composition
| PSE Index (PSEi) Stocks | Company | Stock Code |
|---|---|---|
| 1 | Ayala Corporation | AC |
| 2 | Aboitiz Equity Ventures | AEV |
| 3 | Alliance Global Group, Inc. | AGI |
| 4 | Ayala Land Inc. | ALI |
| 5 | Aboitiz Power | AP |
| 6 | Banco de Oro Unibank, Inc. | BDO |
| 7 | Bank of the Philippine Islands | BPI |
| 8 | Bloomberry Resorts Corp. | BLOOM |
| 9 | DMCI Holdings | DMC |
| 10 | First Gen Corporation | FGEN |
| 11 | Globe Telecom | GLO |
| 12 | GT Capital Holdings | GTCAP |
| 13 | International Container Terminal Services Inc. | ICT |
| 14 | Jollibee Foods Corporation | JFC |
| 15 | JG Summit Holdings | JGS |
| 16 | LT Group | LTG |
| 17 | Metropolitan Bank and Trust Company | MBT |
| 18 | Megaworld Corporation | MEG |
| 19 | Manila Electric Company | MER |
| 20 | Metro Pacific Investments Corporation | MPI |
| 21 | Puregold Price Club, Inc. | PGOLD |
| 22 | Robinsons Retail Holdings Inc. | RRHI |
| 23 | Robinsons Land Corporation | RLC |
| 24 | Semirara Mining Corporation | SCC |
| 25 | Security Bank | SECB |
| 26 | SM Investments Corporation | SM |
| 27 | San Miguel Corporation | SMC |
| 28 | SM Prime Holdings | SMPH |
| 29 | Philippine Long Distance Telephone Company | TEL |
| 30 | Universal Robina Corporation | URC |
The PSEi will undergo another review and its new composition, if any, will be announced on August 2019.
* For the latest PSEi Stock Composition: List of 30 Stocks in the PSE index, click here.
