The Philippine Stock Exchange (PSE) is removing Union Bank of the Philippines (UnionBank/UBP) from the PSEi, PSE Dividend Yield (PSE DivY), and Financials indices starting Oct. 4, 2023. In a memorandum, the bourse said that “a downward adjustment was made to UBP's free float that resulted...
The local stock market ended its six-day rally and finally gave way to profit-taking on the last trading day of the week, month, and end of the third quarter. The main index fell by 64.28 points or 1.01 percent to close at 6,321.24 as the Services sector led the retreat although Miners managed to...
After repeated warnings of drastically increasing penalties by October, the Securities and Exchange Commission (SEC) has granted a final one-month extension for amnesty applications of non-compliant and suspended or revoked corporations. Corporations, which have incurred penalties for the...
The PSEi rose again as the removal of Metro Pacific Investments Corp. (MPIC) and Aboitiz Power Corp. (AboitizPower) from the benchmark boosted trading in other stocks although profit taking tapered gains. The main index added 10.84 points or 0.17 percent to close at 6,385.52 although sectoral...
The Securities and Exchange Commission (SEC) and the Philippines’ leading finance super app GCash have signed a memorandum of agreement (MOA) to go after perpetrators of online fraud, e-scams, and other cybercrimes. Under the agreement, GCash will assist and cooperate with the SEC in...
The Securities and Exchange Commission (SEC) has relaxed the disclosure requirements for public offerings as part of guidelines issued to streamline the process for companies seeking to raise funds from the capital market. SEC Chairperson Emilio B. Aquino “The streamlined procedures are part of...
The Philippine stock market surged for the fifth day in a row as investors continue to find share prices low. The main index jumped 110.74 points or 1.77 percent as Banks led the charge across the board. Volume was lower but still higher than average at 764 million shares worth P6.73 billion...
The Securities and Exchange Commission (SEC) has teamed up with the United Nations Office on Drugs and Crime (UNODC) and Open Ownership (OO) for the potential use of beneficial ownership data in curbing corruption in the government procurement process. The SEC and UNODC recently organized a focus...
The local stock market jumped on follow through buying aided by lower oil prices. The main index surged by 91.10 points or 1.48 percent to close at 6,263.94 as the Property and Banking sectors led the rally across the board. Volume was heavy at 6.41 billion shares worth P35.16 billion...
The Securities and Exchange Commission (SEC) is supportive of a move in Congress to lower taxes on stock transactions to boost and improve the competitiveness of the Philippine capital market. Albay 2nd District Representative Jose Ma. Clemente Salceda has filed House Bill No. 8958, or the...
The local stock market continues to recover lost ground as funds rebalance their portfolios while some investors buy up cheaper stocks. The main index rose 30.05 points or 0.49 percent to close at 6,172.84 with the advance led by Conglomerates although Miners were left behind. Volume jumped...
The Securities and Exchange Commission (SEC) has released new guidelines on the issuance of blue bonds, which will allow the use of the capital markets as one of the avenues for promoting sustainability in the corporate sector. The SEC on Sept. 21 issued Memorandum Circular No. 15, Series of...
