PSE to launch short selling in November

The Philippine Stock Exchange said Friday it will launch the short selling program in November, two weeks behind the original schedule, to allow more traders to adequate comply with the requirement.

“The implementation of short selling is an important milestone for the Philippine stock market. The ability to take short positions will provide investors a tool to hedge their investments, which hopefully will help attract foreign investors back to our market,” PSE president and chief executive Ramon Monzon said.

This program is expected to boost trading activity and liquidity in the stock market as this will attract foreign investors. About 53 securities will initially be eligible for short selling.

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