PSE adds more stocks to six sectoral indices
Published September 1, 2017 4:20pm
The Philippine Stock Exchange Inc. is removing nine member stocks from the sectoral indices and adding 11 other issues after a performance review of companies whose shares are listed and traded in the market.
The 30-stock benchmark PSEi, however, was left unchanged, the PSE said in a statement on Friday.
The top 30 firms comprising the main index were selected for having at least 12 percent public float and passed the liquidity and market capitalization tests.
“All listed issues were reviewed to see how they performed against the index criteria. The result we have is a reflection of how the listed companies fared during the review period. Those that qualified for index inclusion are the stocks that best represent our market indices,” PSE president and CEO Ramon Monzon said.
The review covered the trading activity from July 2016 to June 2017.
The PSE said the new composition of the six sectoral indices will take effect on September 11.
Sectoral indices
The Financials index will have Medco Holdings Inc., while Philippine Business Bank will be removed.
The Industrial index will take in Cemex Holdings Philippines Inc. and Pilipinas Shell Petroleum Corp., while Da Vinci Capital Holdings Inc. will be excluded.
The Holding Firms index will have ATN Holdings Inc. and Lodestar Investment Holdings Corp. replacing Filinvest Development Corp. and Prime Orion Philippines Inc.
In the Property index, Arthaland Corporation, Crown Equities Inc., and MRC Allied Corp. will be added.
The Services index will include Apollo Global Capital Inc., Golden Haven Memorial Park Inc., and Harbor Star Shipping Services Inc.
DFNN Inc. and ISM Communications Corp. will be removed from the Services index.
Abra Mining and Industrial Corp., Atlas Consolidated Mining and Development Corp., and Manila Mining Corp. will be removed from the Mining and Oil index. — Ted Cordero/VDS, GMA News