PSE seeking inputs on revised index rules

The Philippine Stock Exchange is seeking input from select market players on proposed changes to the criteria for inclusion in the bourse’s benchmark and other indices, but a leak resulted in a plunge in the share price of China Banking Corporation.

- By JAMES A. LOYOLA

The proposal sent to some fund managers as well as select foreign and local brokers included a simulation using the proposed criteria, which showed that Chinabank and San Miguel Corporation would be removed while Aboitiz Power Corporation and Wilcon Depot would be added.

Stock traders said the leak sparked off foreign selling in Chinabank shares, which caused its share price to fall 9.13 percent to P65.70 from its closing price of P72.30 in the previous day.

On the other hand, AboitizPower saw its share price rise 3.94 percent to P39.60 from its closing price of P38.10 last Wednesday.