PSEi ends 2024 with first yearly gain since 2019

The Philippine Stock Exchange index (PSEi) concluded the trading year at 6,528.79 points, achieving a year-on-year increase for the first time since 2019.

The PSEi saw a 1.2 percent gain compared to its closing value in 2023, with the PSE MidCap and PSE DivY indices experiencing even larger increases of 29.1 percent and 22.4 percent, respectively.

Daily average value turnover slightly increased to P6.10 billion, while domestic market capitalization grew by 11.2 percent to P14.57 trillion.

Net foreign selling significantly decreased to P23.18 billion from P53.65 billion in the preceding year.

PSE President and CEO Ramon S. Monzon attributed market challenges to internal and external economic and geopolitical headwinds, which led to deferred IPO listings.

Monzon also highlighted that the economic policies of the new US administration are a key consideration for investors, with a favorable outcome potentially encouraging foreign buying and improving market conditions for new listings.