MANILA, Philippines — The Philippine Stock Exchange swam in uncertain waters in 2022 as headwinds marred its ascent.
The local bourse’s performance this year could be described as less than ideal. The domestic economy’s reopening bubble popped as recession fears and rate-hike drama burst onto the scene.
Year-to-date, PSEi shrank 7.81%.
The year also headlined a crucial moment in the Philippines' political history. The election of Ferdinand Marcos Jr., the ousted dictator's son, was met with jitters by investors in the local bourse as shares plunged a day after polls closed.
Inflation, here and abroad, proved to be a persistent headache. This compelled central banks everywhere to inject interest rate hikes to tame inflation.
Besides that, Russia’s invasion of Ukraine sent investors scurrying elsewhere as commodity prices around the world dove because of the war.
The local bourse also made a brief foray into bear market territory towards the second half of 2022.
The 30-member index, considered blue chip companies in the local bourse, saw share prices swing up and down. That said, these are the PSE index’s biggest gainers and losers in 2022: