Philippine Stocks Exchange posts world's fastest growth rate

Manila, Dec 12 2005

The Philippine Stocks Exchange (PSE) posted the world's fastest growth rate in terms of value turnover, according to a report by the World Federation of Exchanges (WFE).

The PSE registered 146.7 percent increase in the first nine months of this year compared to the same period last year, the WFE said.

Francis Lim, President and CEO of the Philippine Stock Exchange indicated that PSE's robust earnings draw investors into the country. The PSE-listed companies gained an average of 27.3 percent increase in profits in the first half of the year. The Central Bank of the Philippines also reports significant increase in foreign investment inflow, from $ 291 million in 2004 to $2.1 Billion this year.

Poland's Warsaw Stock Exchange (WSE) came in second posting a 121.6 percent growth rate also during the covered period.

Austria's Wiener Borse/Vienna Stock Exchange, Jakarta Stock Exchange and Hungary's Budapest Stock Exchange got the third, fourth and fifth post with 101.6, 89.4 and 86 percent surge, respectively.

Formerly known as the International Federation of Stock Exchanges, The World Federation of Exchanges is the umbrella organization of 50 of the world’s leading stock market operators.

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