PH Stocks Bid 2012 Adieu with a Bang

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The Philippine stock market ended the year 2012 on a very high and promising note.

Main index Philippine Stock Exchange index (PSEi) gained 0.31% to close the last trading day of the year at 5,812.73 points – up about 33 percent for the year, according to Maria Arlysa E. Narciso of AB Capital Securities.

Based on when PHStocks started recapping market the index performance – the week of January 27 – the December 28 closing was 24.21% higher. The all-shares index, meanwhile, closed at 3,698.98 points, up by 16.73% from 3,168.91 points during the week of January 27, as per PHStocks records.

Overall, they just point to one direction – up; a sign of good times ahead for the Philippine capital market.

According to Narciso, 2012 was definitely a banner year for the Philippine Stock Exchange. “It also made new highs several times as strength from both economic and corporate factors pushed optimism higher. While global economies reeled and suffered from the financial crisis, the Philippines basked in GDP growths that exceeded expectations, healthy macroeconomic indicators, and rating upgrades from international agencies,” she writes in a weekly report.

It was also a strong year for both the Financial and Holdings Sectors, which even outperformed the index, Narciso says. While Properties, Consumer, and Power moved along with the PSEi, the Services, Industrial, and Mining were quite slow and disappointing, she notes. In particular, Mining issues faced a setback when environmental and economic factors pushed the government to create a mining policy.

Narciso says PSE also made new highs several times as strength from both economic and corporate factors pushed optimism higher. While global economies reeled and suffered from the financial crisis, the Philippines basked in GDP growths that exceeded expectations, healthy macroeconomic indicators, and rating upgrades from international agencies, she adds.

“All that being said, we look towards an at least 10% growth of the PSEi next year. Our target year-end level is 6,390 for the index. We look with favor towards leisure, consumer, and utilities issues,” concludes Narciso.

Meanwhile, below are the gainers during the last trading day of the year: