Benigno S. Aquino III, PSE Speech 2010

12 Oct

Speech of His Excellency
Benigno S. Aquino III
President of the Philippines
At the Philippine Stock Exchange Bell Ringing

[September 14, 2010, PSE Ayala Avenue, Makati City]

Good morning!

Confidence in the country’s prospects is experienced in many ways, but one of the most concrete manifestations is the recent improvement of in the stock market. On Monday, the PSE index hit at an all time high on substantial volume. Last week, we averaged a daily turnover of 5.78 billion pesos. This week, we could very well see average turnover in excess of 4 billion pesos. These are numbers we haven’t seen in years.

It’s not just in the stock market.  We’ve seen an enthusiastic response to our global peso bond offer. As Finance Secretary Cesar Purisima has already said, the offer was over subscribed by more than ten times. Investors were willing to accept a 5% yield and to assume the foreign currency risk, which I hope Cesar assured them would be minimal.

The impressive performance of the capital market usually heralds the coming of more Foreign Direct Investments. That is what our government is working on now. That is what I hope to achieve in my forthcoming trip to the United States. But before the days ahead, let us celebrate today as I ring this bell. I know you will join me in wishing for more happy days to come for our stock market.

Thank you!

Advertisements

One Response to “Benigno S. Aquino III, PSE Speech 2010”

  1. Truman Manos October 25, 2011 at 5:36 AM #

    very nice put up, i actually love this web site, keep on it

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: