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THE Philippine Stock Exchange revamped its sectoral indices, admitting three new companies and removing one, while leaving the benchmark 30-member PSE index (PSEi) intact.
The bourse said in a statement Friday it has updated the list of index members following its regular index composition review that covered the July 2018 to June 2019 period.
Phinma Energy Corp. will now be added to the industrial index. D.M. Wenceslao and Associates, Inc. and Sta. Lucia Land, Inc. will join the property index, from which Philippine Realty Holdings Corp. will exit.
“Our periodic review of the PSEi ensures that the index members continue to be the top companies among those that meet the Exchange’s standards on free float level, liquidity and market capitalization,” PSE President and Chief Executive Officer Ramon S. Monzon said in the statement.
“This exercise gives us the most suitable representatives of the Philippine stock market’s main barometer,” he added.
The changes in the indices will take effect Aug. 19.
The composition of the financials, holding firms, services and mining and oil indices will remain unchanged.
The sectoral indices are made up of companies that meet the PSE’s float requirement of 15% and are among the top 50% in median daily trades per month during the review period.
Nine firms make up the financials index, 25 the industrial index, 14 the holding firms index, 19 the property index, 23 the services index and seven the mining and oil index. — Denise A. Valdez