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Philippine Stock Exchange expects stock market to bounce back in 2023

The Philippine Stock Exchange (PSE) is expecting that the stock market will bounce back this year as the global economy continues to open up and corporate earnings return to pre-pandemic growth levels. PSE President and Chief Executive Officer Ramon S. Monzon said that despite challenges such as geopolitical tensions, higher inflation, and increasing interest rates, he still expects the bourse to be resilient until year-end. Monzon said the Philippines has shown its resiliency through better-than-expected gross domestic product (GDP) growth during the previous quarter, which they hope will carry over for Q4 and in 2023. In Q3, the Philippine economy expanded by 7.6% or higher than predicted. The growth was better than the revised 7.5% posted in Q2 and 7% a year earlier.

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