The Philippine Stock Exchange index (PSEi) will not see any changes in its composition based on the review covering the trading period from July 2016 to June 2017. The PSEi, which is the Philippine stock market’s main index, is composed of the top 30 stocks that meet the qualifications of being a PSEi-member such as having a public float of at least 12 percent, and having passed the liquidity and market capitalization screening.
The six sectoral indices, on the other hand, will have changes in its constituents.
The Financials index will see the inclusion of Medco Holdings, Inc. and the exclusion of Philippine Business Bank. The Industrial index will have two new members, namely Cemex Holdings Philippines, Inc. and Pilipinas Shell Petroleum Corporation while Da Vinci Capital Holdings, Inc. will be removed from the index. Meantime, ATN Holdings, Inc. and Lodestar Investment Holdings Corporation will replace Filinvest Development Corporation and Prime Orion Philippines, Inc. in the Holding Firms index.
Meanwhile, Arthaland Corporation, Crown Equities, Inc. and MRC Allied Corporation will be added to the Property index. Changes in the Services index consist of the inclusion of Apollo Global Capital, Inc., Golden Haven Memorial Park, Inc. and Harbor Star Shipping Services, Inc. and the exclusion of DFNN, Inc. and ISM Communications Corporation. Finally, three stocks will be removed from the Mining and Oil index, including Abra Mining and Industrial Corporation, Atlas Consolidated Mining and Development Corporation and Manila Mining Corporation.
“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,” said PSE President and CEO Ramon S. Monzon.
The new index composition will take effect on September 11, 2017.