𝗥𝗢𝗨𝗡𝗗 𝟭: 𝗣𝗵𝗶𝗹𝗶𝗽𝗽𝗶𝗻𝗲𝘀 𝗙𝗮𝗰𝗲𝘀 𝘁𝗵𝗲 𝗕𝗲𝗹𝗹 𝗔𝗳𝘁𝗲𝗿 𝗦𝘁𝗼𝗰𝗸 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗹𝘂𝗺𝗽 — 𝗖𝗮𝗻 𝗜𝘁 𝗦𝘁𝗮𝗴𝗲 𝗮 𝗖𝗼𝗺𝗲𝗯𝗮𝗰𝗸?

After a decade in decline, the Philippine Stock Exchange is staring down the ropes. The country now holds the dubious title of world’s worst-performing stock market, with the PSE Index down 17% over the last ten years — even as regional neighbors like Indonesia surged by over 80%. Structural weaknesses run deep: too few listed companies, low trading volume, and a heavy concentration of holdings in just a handful of financial and industrial giants.

As Maynilad Water Services gears up for the country’s biggest IPO since 2021, regulators are scrambling to restore confidence. The Securities and Exchange Commission has pledged to attract state firms and foreign capital, while the PSE is easing listing rules to revive participation. For investors like lawyer Carl Balagtas, who spent years betting on the local market, hope now hinges on whether Manila’s trading floor can get back on its feet — or whether this will be remembered as the decade the Philippines forgot how to fight.

Image from Wealth Insights PH