The Philippine Stock Exchange (PSE) has denied claims it had lost as much as P5 trillion in market capitalization since December 2024, calling the figure “preposterous” and based on a malicious comparison of data.
It issued the statement to “set the record straight once and for all” after a social media post, which it labeled from a “pseudo-expert,” claimed the PSE’s market capitalization (MCAP) had plummeted by P5 trillion since December 2024.
The PSE denied this, saying it tracks two types of MCAP. Domestic MCAP includes Philippine companies with a primary listing on the PSE while Total MCAP includes domestic companies plus the market value of foreign companies dually listed such as Manulife Financial Corp., Sun Life Financial Inc. and Del Monte Pacific Ltd.
The exchange said it uses Domestic MCAP data as the reference number because it “more accurately captures the performance of the Philippine stock market,” given that less than 1 percent of the outstanding shares of Manulife and Sun Life, and less than 5 percent of Del Monte, are lodged for trading on the PSE.
“Deliberately comparing apples to oranges by comparing Domestic MCAP to Total MCAP is dishonest, if not malicious, and is clearly meant to provoke investors to lose confidence in the Philippine capital market and destabilize the economy,” the PSE said in its statement.
The PSE said its data showed that Domestic MCAP stood at P14.29 trillion as of Oct. 10, down by P273.26 billion, or 1.88 percent, from P14.57 trillion as of Dec. 27, 2024. Total MCAP, which includes the foreign listings, fell by P886.84 billion, or 4.3 percent, during the same period.
“We trust that the data provided in this statement will put an end to fake news about trillions lost in PSE’s MCAP this year,” the PSE said.
 denies "preposterous" claims of a P5 trillion market cap loss, arguing the figure is based on a "dishonest" comparison of Domestic and Total Market Capitalization data.){kind=link}