PSE Composite Index

The PSE Composite Index, commonly known previously as the PHISIX and currently as the PSEi, is a stock market index of the Philippine Stock Exchange consisting of 30 companies.[1]

As the PSE's only broad-base index, it is frequently seen as an indicator of the general state of the Philippine business climate,[2] although its reliability as an indicator of the state of the broader Philippine economy has been put into question.[3]

The stock exchange regularly revises the list, at least twice a year. The PSE Composite Index is always composed of 30 stocks.

Requirements

The stock exchange maintains the following requirements for a stock to be included in the PSEi:[4]

  • Minimum free float level of 20%.
    • This was increased from 12% before 2018.
  • A company must also meet the liquidity and capitalization criteria.

Formula

The exchange uses the following formula to calculate for the index:

[5]

Where:

n = Total number of component companies (30)

= Closing price of company i at day t

= Available shares of company i at day t

= Company free float level (0 to 1), where 1 means 100% free float.

b = Free float-adjusted market capitalization base

Annual returns

The following table shows the annual development of the PSE Composite Index since 1980.[6]

Year Closing level Change in index
in points		 Change in index
in %
1980256.78
1981183.91−72.87−28.38
1982170.36−13.55−7.37
1983167.49−2.87−1.68
1984100.29−67.20−40.12
1985131.1930.9030.81
1986424.81293.62223.81
1987813.17388.3691.42
1988841.6528.483.50
19891,104.57262.9231.24
1990651.78−452.79−40.99
19911,151.87500.0976.73
19921,256.22104.359.06
19933,196.081,939.86154.42
19942,785.81−410.27−12.84
19952,594.18−191.63−6.88
19963,170.56576.3822.22
19971,869.23−1,301.33−41.04
19981,968.7899.555.33
19992,142.97174.198.85
20001,494.50−648.47−30.26
20011,168.08−326.42−21.84
20021,018.41−149.67−12.81
20031,442.37423.9641.63
20041,822.83380.4626.38
20052,096.04273.2114.99
20062,982.54886.5042.29
20073,621.60639.0621.43
20081,872.85−1,748.75−48.29
20093,052.681,179.8363.00
20104,201.141,148.4637.62
20114,371.96170.824.07
20125,812.731,440.7732.95
20135,889.8377.101.33
20147,230.571,340.7422.76
20156,952.08−278.49−3.85
20166,840.64−111.44−1.60
20178,558.421,717.7825.11
20187,466.02−1,092.40−12.76
20197,815.26349.244.68
20207,139.71−675.55−8.64
20217,122.63−17.08−0.24
20226,566.39−556.24−7.81

Current components

These are current as of February 2022:[7]

Company Ticker symbol Also a component of the
Aboitiz Equity Ventures PSE: AEV PSE Holding Firms Index
Aboitiz Power Corporation PSE: AP PSE Industrial Index
AC Energy PSE: ACEN PSE Industrial Index
Alliance Global Group PSE: AGI PSE Holding Firms Index
Ayala Corporation PSE: AC PSE Holding Firms Index
Ayala Land PSE: ALI PSE Property Index
Bank of the Philippine Islands PSE: BPI PSE Financials Index
Banco de Oro PSE: BDO PSE Financials Index
Emperador, Inc. PSE: EMI PSE Industrial Index
Converge ICT PSE: CNVRG PSE Services Index
Globe Telecom PSE: GLO PSE Services Index
GT Capital PSE: GTCAP PSE Holding Firms Index
International Container Terminal Services PSE: ICT PSE Services Index
JG Summit Holdings PSE: JGS PSE Holding Firms Index
Jollibee Foods Corporation PSE: JFC PSE Industrial Index
LT Group PSE: LTG PSE Holding Firms Index
Megaworld Corporation PSE: MEG PSE Property Index
Meralco PSE: MER PSE Industrial Index
Metro Pacific Investments Corporation PSE: MPI PSE Holding Firms Index
Metrobank PSE: MBT PSE Financials Index
Monde Nissin PSE: MONDE PSE Industrial Index
PLDT PSE: TEL PSE Services Index
Puregold PSE: PGOLD PSE Services Index
Robinsons Land PSE: RLC PSE Property Index
San Miguel Corporation PSE: SMC PSE Holding Firms Index
Security Bank PSE: SECB PSE Financials Index
SM Investments Corporation PSE: SM PSE Holding Firms Index
SM Prime Holdings PSE: SMPH PSE Property Index
Universal Robina PSE: URC PSE Industrial Index
Wilcon PSE: WLCON PSE Services Index

Previous components
Company Ticker symbol Times included Notes
ABS-CBN Corporation PSE: ABS Removed May 2008,[8] removed November 2009,[9] re-added May 2010,[10] removed September 2011[11]
Belle Corporation PSE: BEL Component since September 2001,[12] removed May 2008,[8] re-added September 2011,[11] removed August 2013[13]
Benpres Holdings Component since September 2001[12] Renamed into Lopez Holdings Corporation (PSE: LPZ)
Bloomberry Resorts Corporation PSE: BLOOM Removed February 2022[14]
C&P Homes CMP Component since September 2001[12] Now part of Vista Land (PSE: VLL)
Cebu Pacific PSE: CEB Added September 2011,[11] removed September 2012[15]
Chinabank PSE: CHIB Added May 2010[10]
Digital Telecommunications Philippines DGTL Component since September 2001[12] Bought by PLDT (PSE: TEL)
DMCI Holdings PSE: DMC Removed May 2008,[8] re-removed August 2021[16]
Emperador, Inc. PSE: EMP Added September 2015,[17] removed March 2017,[18] re-added August 2020,[19] re-removed August 2021,[16] re-added February 2022[14]
Empire East Land PSE: EEI Added April 2006[20]
Energy Development Corporation EDC Removed September 2017[21] Renamed into Lopez Holdings Corporation (PSE: LPZ)
Equitable PCI Bank EPCI Bought by Banco de Oro (PSE: BDO)
Fil-Estate Land Removed September 2001[12] Bought by Alliance Global (PSE: AGI)
Filinvest PSE: FDC Removed September 2001,[12] removed September 2011[11]
First Philippine Holdings Corporation PSE: FPH Removed September 2011[11]
GMA Network PSE: GMA7 Added May 2009[22]
Holcim Philippines PSE: HLCM Removed April 2006[20]
La Tondeña Distillers LTDI Component since September 2001[12] Bought by San Miguel Corporation (PSE: SMC); renamed as Ginebra San Miguel (PSE: GSMI)
Lepanto Mining PSE: LC and LCB Removed September 2011[11]
Manila Mining PSE: MA and MAB Added April 2006[20]
Music Corporation MUSX Added September 2001[12] Now Green Holdings, Inc. (PSE: GREEN)
Petron Corporation PSE: PCOR Removed May 2008,[8] re-added May 2009,[22] re-added September 2012,[15] removed February 2018[23]
Philex Mining PSE: PX Removed September 2015[17]
Philippine National Bank PSE: PNB Component since September 2001,[12] re-added May 2008[8]
Philippine Stock Exchange PSE: PSE Added November 2009[9]
Piltel PLTL Added September 2001,[12] removed April 2006[20] Bought by PLDT (PSE: TEL)
Rizal Commercial Banking Corporation PSE: RCBC Added May 2008,[8] removed November 2009[9]
Robinsons Retail Holdings PSE: RRHI Removed February 2022[14]
Semirara Mining and Power Corporation PSE: SCC Added September 2011,[11] removed August 2020[19]
SM Development Corporation PSE: SMDC Added September 2011,[11] removed March 2013[24]
Southeast Asia Cement Holdings CMT Added September 2001[12]
Unionbank PSE: UBP Added May 2008, re-added May 2009[22]
Union Cement Added September 2001[12] Bought by Phinma Corporation (PSE: PHN)
Vista Land PSE: VLL Added May 2008,[8] removed November 2009

Record values
Category All-Time Highs
Closing9,041.20Friday, January 26, 2018
Intraday9,078.37Monday, January 29, 2018

See also

References
  1. "The Philippine Stock Exchange". Retrieved September 17, 2014.
  2. Balaba, Jeaneth Michelle L. (June 20–22, 2017). Does the Stock market Drive the Philippine Economy? (PDF). DLSU Research Congress 2017. Retrieved July 31, 2018.
  3. Heydarian, Richard Javad (March 20, 2013). "Philippine Stocks Crash: Symptom of Growing Economic Imbalances". HuffPost. Retrieved July 31, 2018.
  4. Resane, Andrea Mei B. (February 13, 2018). "No change in PSE index; sectors undergo revamp". BusinessWorld. Retrieved March 27, 2018.
  5. "PSE Policy on Index Management" (PDF).
  6. Committee for Financial Technical Assistance in Asia: The Stock Markets in Asia, Institute of Global Financial Studies, Foundation for Advanced Information and Research, Tokio 1994
  7. "PSEi revised, ACEN and CNVRG added". Manila Bulletin. August 5, 2021. Retrieved August 19, 2021.
  8. "PSE to change composition of indices on May 26". ABS-CBN News. April 28, 2008. Retrieved August 19, 2021.
  9. "PSE to join main index for the first time". ABS-CBN News. October 22, 2009. Retrieved August 19, 2021.
  10. "ABS-CBN back in PSE main index". ABS-CBN News. May 5, 2010. Retrieved August 19, 2021.
  11. Alcuaz, Coco (August 25, 2011). "San Miguel, Cebu Air, SMDC join index; darling stock Lepanto out". ABS-CBN News. Retrieved August 19, 2021.
  12. Mendez, Christina; Diaz, Conrado Jr. "PSE reconstitutes main index". Philstar.com. Retrieved August 19, 2021.
  13. Rivera, Danessa O. "LT Group, GT Capital replace Meralco, Belle Corp. in benchmark PSEi". GMA News Online. Retrieved August 19, 2021.
  14. "PSEi to move sideways on rebalancing, oil prices". BusinessWorld Online. February 6, 2022. Retrieved February 7, 2022.
  15. Miraflor, Madelaine B. (August 24, 2012). "Petron replaces Cebu Air at stock index". The Manila Times. Retrieved August 19, 2021.
  16. "PSEi revised, ACEN and CNVRG added". Manila Bulletin. August 5, 2021. Retrieved August 19, 2021.
  17. "Emperador a blue chip under revised PSE index". Philstar.com. Retrieved August 19, 2021.
  18. "Emperador out, Puregold in when PSEi recomposes in mid-March". BusinessMirror. February 22, 2017. Retrieved August 19, 2021.
  19. "Emperador set to join 30-company PSE index". Manila Standard. Retrieved August 19, 2021.
  20. "Holcim, Piltel taken out of stock index". The Manila Times. March 18, 2006. Retrieved August 19, 2021.
  21. Dumlao Abadilla, Doris (September 26, 2017). "RRHI to join PSEi, replacing EDC". INQUIRER.net. Retrieved August 19, 2021.
  22. Peña, Zinnia B. Dela. "PSE reconstitutes indices". Philstar.com. Retrieved August 19, 2021.
  23. Cabuag, V. G. (February 11, 2019). "Petron out, Bloomberry in at benchmark PSEi | VG Cabuag". BusinessMirror. Retrieved August 19, 2021.
  24. "New PSEi: Razon-led Bloomberry in, Sy-led SMDC out". Rappler. February 28, 2013. Retrieved August 19, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.