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Richmond Mercurio - The Philippine Star
December 31, 2025 | 12:00am
Philippine Stock Exchange employees join management, led by president and CEO Ramon Monzon and COO Roel Refran, for a group photo to mark the last trading day of 2025. The bourse recorded a 75-percent surge in total capital raised from the sale of primary and secondary shares and warrants to P144.14 billion, highlighted by two initial public offerings (Top Line Business Development Corp. and Maynilad Water Services Inc.), eight follow-on offerings and 14 private placements.
STAR / File
MANILA, Philippines — The local stock market could be one of the best-performing markets in the region in 2026 if the government succeeds in its drive to hold the corrupt accountable and institute real and lasting reforms, according to Philippine Stock Exchange Inc. president and CEO Ramon Monzon.
“The PSEi (Philippine Stock Exchange index)’s decline this year is not just about numbers – it’s about trust and confidence,” Monzon said.
“The corruption scandal, the deteriorating peso and the disappointing GDP (gross domestic product) performance for the third quarter have clouded our economy’s outlook and triggered persistent selling by foreign investors in the market this year,” he added.
Nonetheless, Monzon said there are a lot of positives to look forward to in 2026.
“Earnings of listed companies are poised to continue growing, making valuations and dividend yields quite attractive. Looming changes in REIT (real estate investment trust) rules and IPO (initial public offering) float requirements should result in more listings,” he said.
The PSEi closed at 6,052.92 on its last trading day for 2025, down by 12.72 points or 0.21 percent. Year-to-date, the main index has declined by 7.29 percent.
Despite the drop in the main index, the PSE reported that two other key benchmarks delivered positive returns, with the PSE MidCap and PSE Dividend Yield indexes increasing by 20.17 percent and 2.37 percent, respectively, year-on-year.
In terms of sectoral indexes, the mining and oil index emerged as the best performer this year, climbing by 92.34 percent.
Daily average value turnover for 2025 stood at P7.33 billion, up by 20.10 percent from last year’s P6.10 billion average.
Domestic market capitalization declined by 6.29 percent to P13.65 trillion compared to P14.57 trillion in 2024.
A total of P51.78 billion worth of net foreign selling was registered by the market in 2025.
Meanwhile, the PSE recorded a 75-percent surge in total capital raised from the sale of primary and secondary shares and warrants, reaching P144.14 billion this year, up from P82.37 billion raised in 2024.
The PSE saw two IPOs in 2025 from Top Line Business Development Corp. and Maynilad Water Services Inc. Other capital-raising activities conducted this year included eight follow-on offerings and 14 private placements.
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