Philippines’ short selling program to start on November 6 — Stock Exchange

October 22, 2023 - 4:06 PM
PSE bldg
In this May 10, 2022 photo, the external display of the Philippine Stock Exchange building in Taguig City shows PSEi's closing a day after the 2022 presidential elections. (Philippine Stock Exchange/Released)

 The Philippines will from November 6 start allowing short-selling, a practice that seeks to profit off bets on a stock falling, two weeks behind the initial target, the bourse operator said on Friday,

The launch of the short selling program was extended to give market participants more time to prepare, the Philippine Stock Exchange PSE.PS said.

“The ability to take short positions will provide investors a tool to hedge their investments, which hopefully will help attract foreign investors back to our market,” PSE president and CEO Ramon Monzon said in a statement.

It will also generate increased trading activity, he added.

— Reporting by Neil Jerome Morales; Editing by Martin Petty