The Philippine Stock Exchange, Inc. (PSE) and Taiwan Stock Exchange (TWSE) entered into a Memorandum of Understanding (MOU) that will formalize and strengthen the relationship between the two bourses. PSE President and CEO Ramon S. Monzon and TWSE Chairman Sherman Lin led the MOU signing ceremony on August 20, 2024, at TWSE Headquarters in Taipei, Taiwan.
Under the MOU, PSE and TWSE will collaborate on product development and market promotion and share best practices in areas such as regulations, ESG practices, and market trends, among others.
“I believe this MOU is a good starting point for the relationship between PSE and TWSE and is key to fostering the friendship recently formed between us and exploring mutually beneficial endeavors for the two bourses. TWSE’s insights on product and technology development, regulatory and sustainability initiatives will serve as invaluable inputs to our Exchange,” said PSE President and CEO Ramon S. Monzon.
PSE and TWSE will form a working group to carry out the objectives in the areas of cooperation covered by the MOU.
The PSE also previously signed an MoU with the New York Stock Exchange, and Vietnam’s Ho Chi Minh Stock Exchange and Hanoi Stock Exchange.
In H1 2024, PSE’s net income stood at P398.02 million, down by 4.7 percent from P417.51 million in the same period in 2023. Its operating revenues also decreased by 2.3 percent to P722.75 million.
During the first six month period of 2024, TWSE was the top performing market in Asia-Pacific region so far this year. The Taiwan Weighted Index jumped 28% powered by stocks along the AI value chain.
“The performance of global markets this year has been largely driven by the themes of Artificial Intelligence and central bank policy, and that is likely to continue,” said Rahul Ghosh, global equity portfolio specialist at T. Rowe Price said in the asset management company’s investment outlook.
On the other hand, the Philippine stock exchange index slipped about 0.6% in the same period.
