本日から数回フィリピンの株式市場についてご紹介したいと思います。フィリピンの代表的な株式指数は「PSEi」と呼ばれるもので、フィリピンを代表する30銘柄からなります。現在の30社は以下の通りですが、それなりの頻度で銘柄の入替が行われています。

I would like to introduce the Philippine stock market a few times starting today. The leading stock index in the Philippines is called the PSEi, which consists of 30 stocks representing the Philippines. The current list of 30 companies is as follows, the stocks are replaced frequently.

少し見れば分かるように、SMとかAyalaとか同じような名前が沢山あります。フィリピンの財閥を少し勉強した方ならば、BDOはSMグループに属すること、BPIがAyalaグループに属することをご存じだと思います。そう考えると、30社といっても親子会社だったり兄弟会社だったりがかなりを占めることに気づきます。また、製造業がほとんどないことも特徴だと思います。

As you can see, there are many names that look the same such as SM and Ayala. If you have studied the Philippine conglomerates a bit, you would know that BDO belongs to the SM group, BPI and Globe belong to the Ayala group. When you think about it, you realize that even though there are 30 companies, a lot of them are parent-subsidiary companies or sibling companies. I think another characteristic is that there are almost no manufacturing companies.

Company Name(Ticker)	Sector	Market Cap.	52H	52L	Latest
SM Investments Corp. (SM)	Holding Firms	1,151,581	1,100	810.0	910.5
SM Prime Holdings, Inc. (SMPH)	Real Estate	947,238	41.95	27.65	31.45
Ayala Land, Inc. (ALI)	Real Estate	517,119	42.10	26.50	32.70
BDO Unibank, Inc. (BDO)	Banks	465,685	118.1	85.0	102.0
Ayala Corp. (AC)	Holding Firms	447,730	870	685	730
JG Summit Holdings, Inc. (JGS)	Holding Firms	436,217	75.90	47.90	56.00
Bank of the Philippine Islands (BPI)	Banks	376,394	92.00	61.00	80.50
International container Terminal Services, Inc. (ICT)	Transportation & Logistics	326,700	167.8	91.55	155.5
Manila Electric Company (MER)	Energy & Utilities	300,935	315.0	255.2	265.0
Universal Robina Corp. (URC)	Food & Beverages	292,051	160.9	118.3	126.7
San Miguel Corp. (SMC)	Holding Firms	268,773	142.9	96.0	104.0
PLDT (TEL)	Telecommunications	268,341	1,487	1,195	1,225
Globe Telecom, Inc. (GLO)	Telecommunications	254,811	2,200	1,796	1,860
Aboitiz Equity Ventures, Inc. (AEV)	Energy & Utilities	222,393	51.60	34.00	37.60
Jollibee Foods Corp. (JFC)	Food & Beverages	218,461	223.8	126.1	190.0
Emperador Inc. (EMP)	Food & Beverages	215,589	13.98	9.03	13.98
Metropolitan Bank & Trust Company (MBT)	Banks	200,359	52.20	33.05	43.00
Aboitiz Power Corp. (AP)	Energy & Utilities	176,606	28.60	20.50	23.20
GT Capital Holdings, Inc. (GTCAP)	Holding Firms	121,205	673.5	375.2	543.5
Puregold Price Club Inc. (PGOLD)	Commerce	115,910	54.00	31.20	40.30
Metro Pacific Investments Corp. (MPI)	Holding Firms	110,377	4.58	2.97	3.50
LT Group, Inc. (LTG)	Holding Firms	105,833	15.50	7.11	9.77
First Gen Corp. (FGEN)	Energy & Utilities	105,565	33.70	22.50	29.00
Alliance Global Group, Inc. (AGI)	Holding Firms	96,686	11.50	5.44	10.16
Megaworld Corp. (MEG)	Real Estate	91,448	4.30	2.60	2.77
Robinsons Land Corp. (RLC)	Real Estate	85,594	23.25	13.50	16.10
Security Bank Corp. (SECB)	Banks	82,889	149.5	87.1	110.0
Robinsons Retail Holdings, Inc. (RRHI)	Commerce	82,807	70.10	48.50	53.70
DMCI Holdings, Inc. (DMC)	Holding Firms	82,585	6.87	3.42	6.00
Bloomberry Resorts Corp. (BLOOM)	Casinos & Gaming	64,378	8.95	5.68	5.68

指数の推移は下のLinkから見れますが、コロナ禍で落ち込んだ株価がまだまだ回復していないように思います。私自身は、期待も込めてフィリピン経済の持ち直しを想定していますから、今の株価水準は割安で買える水準だと思っています。

You can see the transition of the index via Link below. I think the stock price that fell due to the Covid19 pandemic has yet to recover. I myself expect the Philippine economy to pick up, so I think the current stock price is undervalued.

https://www.marketwatch.com/investing/index/psei?countrycode=ph

フィリピンの証券会社に口座を持つことは可能で、個別株を小額から購入することが可能です。日本の証券会社でも楽天証券やアイザワ証券で扱っているようですから、ご興味のある方は是非。言うまでも無く、投資は自己責任でございます。

It is possible to have an account with a Philippine brokerage firm, and you can purchase individual stocks from a small amount. In Japan, Rakuten Securities and Aizawa Securities seem to offer this service, so if you are interested, please feel free to contact them. Needless to say, investing is at your own risk.