The Philippine Stock Exchange (PSE) has reportedly lost around ₱5 trillion in market capitalization since December 2024, according to former Bangko Sentral ng Pilipinas (BSP) Investor Relations head Cora Guidote.
In a Facebook post on Thursday, October 9, Guidote shared data supporting her statement, pointing to a significant decline in the value of the local stock market.
“So I went back to Grok and sought the data sources. The numbers are different and more realistic but the trends are the same and the drop in market cap are in fact larger from December 2024,” she wrote.
Guidote said that between February and October 2025 alone, the market had already shed about ₱3.6 trillion.
Based on the figures she presented, the PSE’s total market capitalization stood at ₱19.9 trillion in December 2024, dropped to ₱18.5 trillion in February 2025, and further fell to ₱14.9 trillion as of October 9.
“Given these data, the Phisix market cap actually dropped by ₱5 trillion from December 2024 to October, and by ₱3.6 trillion from February to October,” Guidote said.
She added that these figures are even larger than previously reported estimates: “These numbers are in fact much larger than what was formerly cited. Although, if one looks at the index performance in the last 3 weeks the ₱1.7 trillion loss may not be that farfetched. They are also in line with the index performance which peaked late last year,” she explained.
Guidote also expressed concern about the market’s short-term prospects, citing instability in governance and the ripple effects of corruption scandals.
“The index will most likely decline further or flatline at the least given the political uncertainty and the long-term economic impact of the exposed massive corruption,” she warned.
Her statement was made in response to Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, who earlier dismissed as “fake news” the claim that ₱1.7 trillion had been wiped out from the market due to the ongoing controversy over alleged irregularities in flood control projects.