The Philippine stock market had a terrific run in 2017. When the market experienced a new high in 2017, it showed that the stock market is still the leading favorite among developing markets because of its attractive returns.
Equilyst Analytics breaks down the PSEi 2017 Performance Review in illustration. Here are the statistics:
During the last trading days of 2017, the market reversed its decline for two years by closing at a new record high of 8,558.42 points. The outstanding performance of the stock market avoided a successive slump as the market went up by 1,717.78 points (25.1%).
In addition, 2017 was the first full year for the new administration. Stock market gains were brought about by the decent financial state of the government, consistent corporate earnings, and strong economic growth. Property, service, and financial sectors with stable leadership enjoyed a fruitful 2017.
PSEi 2017 Performance Review Highlights
Moreover, Philippine Stock Exchange had 267 listed companies with a Total Market Capitalization of P17.58 trillion in 2017, which was up by 21.8% year over year.
Furthermore, four companies entered the Philippine Stock Exchange in 2017: Wilcon Depot, Inc., Eagle Cement Corporation, Cebu Landmasters, Inc., and Chelsea Logistics Holdings Corp.
Wilcon Depot, Inc. (WLCON) debuted successfully on its initial public offering of PHP7 billion at P5.05 per share. Next was Eagle Cement Corporation (EAGLE) with an approved IPO of PHP7.384 billion.
Two companies followed suit. Cebu Landmasters, Inc. (CLI) recorded a PHP3.8 billion IPO. On the other hand, Chelsea Logistics Holdings Corp. (CLC) started at PHP5.84 billion.
With numerous market events in 2017, the overall performance of the market is a site to see as it aimed to raise capital. 2017 has proven that the economy would continue to provide added growth for all listed companies. This would also entice more investors in the stock market.
Indeed, 2017 closed with a lively beat. The question is: will it carry on? Nothing is certain, but the Philippine stock market will continue to be an excellent vehicle for profit.
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