PSE urges BPO workers to invest in stock market

CEBU, Philippines - The Philippine Stock Exchange (PSE) is now tapping the growing Business Process Outsourcing (BPO) sector workers to consider investing into the capital market, while it has seen strong interest from the younger generation.

PSE president and chief executive officer (PSE) Hans Sicat said that this potential market is most likely to have savings, and disposal income, at the same time technology-savvy that understands the benefits in putting their money in the capital market.

“We need to be more inclusive in attracting various sectors,” Sicat said adding that BPO workers have high potential to easily put their money in the stock market, through PSE’s retail investment instrument.

Financial institutions now a days, he said are offering multi-faceted investment alternatives, including mutual funds, specific stocks, and other index baskets such as securities.

According to Sicat there is a high possibility that the over 600,000 (and growing) BPO workers who are receiving good monthly salary, will be attracted to put their money in the capital market.

The Philippine stock market is regarded as number three in the world, and top performer in Asia. This is because of its healthy growth path over the years, despite the threat of economic global economic fragility.

This year, average daily trading on the stock market is P7.76 billion. Some days trading value on the market could reach even as high as P16 billion or more.

Aside from the foreign money coming to the exchange, which grew by 55 percent or P29 billion compared to last year, Sicat said the exchange has seen growing domestic capital coming to the system.

“We have seen strong interest from the local investors investing into the market,” he said.

Last year, PSE recorded P107 billion to P110 billion worth of offering or issuance tendered in the stock market. This year however, Sicat said the exchange expect to grow the issuance to P200 billion.

Because of this active stock market in the Philippines, which is the lead indicator of a healthy economy, Sicat said PSE is intensifying its programs to order to sustain the momentum, via programs that are expected to attract more participation from both corporate listings, and the capital market investors.

Thus, the exchange is now seeing other sectors like the BPO, the education sector to orient and introduce the young generation to the stock market investment.

Part of its medium and long term goal is to expand the penetration of investment participation on the stock market, the reason PSE has allocated budget to partner with educational institutions and the Commission of Higher Education (Ched) to include a course or subject on capital market.

In fact, PSE has already installed its own PSE Academy Website, to educate the internet-savvy potential investors how to participate in the capital market, and its benefits.

Last year, PSE has opened its satellite office in Cebu, in order to make its presence here. Today, there are six trading participants at Cebu office. (FREEMAN)