Analysis by First Metro Investment Corporation showed that foreign ownership in companies comprising the Philippine Stock Exchange index is at a nine-year low of 21%.
There were only some days where spurts of net foreign buying were recorded in 2021, amounting to just $152 million.While foreigners have stayed away from the Philippine market, the PSEi has been hovering around the 7,000 level in recent days.Moreover, the average daily number of trades in 2020 jumped by 33.7%, while retail participation surged by 47.8%.in 2020 increased by 19.7% to 936,000, while non-online accounts went up by 3.3% to 460,553.
FMIC's head of equities research Cristina Ulang said online platforms made it easier for retail investors to trade, hence the surge in volume from local players.