FOREIGN-OWNED brokerages again cornerd the bulk of the stock market’s trading last year, data from the Philippine Stock Exchange (PSE) showed.

Six of the top nine equity firms by market share were foreigners that had a combined share of almost half.

The stock exchange said topping the list was Deutsche Regis Partners, Inc., which had increased its market share to 15.73% or P240 billion worth of equity trading last year from 12.2% a year earlier.

Other foreign-owned brokerages that made it to the list were BDO Securities Corp., which ranked third with a 7.5% market share; UBS Securities Philippines, Inc. (7.4%); Macquarie Capital Securities, Inc. (6.8%); JP Morgan Securities Philippines, Inc. (6.5%); and CLSA Philippines, Inc. (6.1%). The last four ranked fifth, sixth, seventh, and eighth, respectively.

Among the local brokerages that made it to the list were ATR-KimEng Securities, Inc., which ranked second with a 9% market share and Philippine Equity Partners, which ranked fourth with a 7.5% share.

Local brokerage Mandarin Securities Corp. was on the last spot with a market share of 3.8%.

Jun Calaycay, Jr. of Accord Capital Equities Corp. said foreign investors make up close to two-thirds of stock market transactions everyday, which explains why foreign equity companies continued to lead the trading. “Local inveseors are just followers. Right now, we are looking at how foreign brokers are moving,” he said in an interview.

The analyst noted that last year, a number of foreign investors had sold their stock investments here since they needed the cash in their home countries where life had become more difficult.

Based on the exchange’s Web site, the country has 150 local and 34 foreign brokerages.

Kristine Jane R. Liu

SOURCE: ATR Kimeng News

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