PHL stock exchange's tech glitches may dent foreign investor confidence

THE Philippine Stock Exchange, Inc. (PSE) is being urged to invest more in advanced infrastructure as technical glitches that affect trading may dent investor confidence, analysts said.

- By Sheldeen Joy Talavera Reporter

Trading was delayed by nearly two hours on Monday morning due to a “system connectivity issue,” the PSE said in an advisory.

The market opened at 11:10 a.m. instead of the usual 9:30 a.m.

The delay may have dampened trading in the stock market. The PSE’s main index closed Monday’s session down by 1.19% to 6,192.02, with all indices in the red.

Analysts said the local bourse operator should strengthen the trading infrastructure since technical disruptions have hit the stock market every year since 2022.

"Time is money in financial markets. This is why it’s important for the PSE to ensure that we have a reliable trading infrastructure that can support transactions during business hours," Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message.

While there has been no significant impact, Mr. Colet said that "if we're trying to make our market more attractive to investors, these glitches don’t help."