With GStocks PH, GCash users can easily enter the world of investing in local stocks.
GCash, the Philippines' leading financial app and largest cashless ecosystem, is looking to expand the user base of its stock investment platform as analysts expect financial markets to rebound this year.
In 2023, GCash hired AB Capital Securities, Inc. (ABCSI) to introduce GStocks PH to its millions of users, giving them the opportunity to diversify their portfolio and select companies listed on the Philippine Stock Exchange (PSE).
The Philippine stock market is preparing for a recovery in 2024, according to many analysts. As overall prices weaken, central banks around the world, led by the US Federal Reserve, are expected to change course and cut interest rates. This move is likely to benefit growth assets, particularly stocks, and pave the way for an optimistic outlook.
“All of this would mean potentially renewed interest in local equities, particularly as trading volumes dry up in 2023. This could be the year that Philippine stocks come back to life, presenting a good opportunity for long-term investors to participate in the growth that local companies can offer over time,” explained Mark Ilao, Head of Market Education at GCash.
GStocks PH is taking significant steps to earn investors' trust by establishing itself as a reliable trading channel and providing timely investment insights and advice to its users.
“GStocks PH is a commendable innovation that gives consumers greater and broader access to the capital market that would otherwise be more difficult through traditional channels. This is also in line with the Commission’s policy to further democratize wealth through equity ownership, which in turn strengthens the Philippine stock market,” said Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission (SEC).
“PSE’s partnership with GStocks PH brings us one step closer to greater financial inclusion by making the stock market more accessible to retail investors. As the market recovery continues through 2024, we hope that more Filipinos will be able to benefit from the growth of our listed companies through equity investments,” said Ramon S. Monzon, President and CEO of Philippine Stock Exchange, Inc.
“Nearly 60 percent of Americans own stocks. Here the number is less than 2 percent. Conventional wisdom suggests that our low number is due to a lack of savings. However, this does not explain the higher share of cryptocurrencies and widespread participation in online gambling.
The missing link between the stock market and the public is ease of access. GStocks PH will be that link,” emphasized Antonio Jose U. Periquet, Jr., Executive Chairman of AB Capital and Investment Corporation.
With GStocks PH, GCash users can easily dive into the world of investing in local stocks – simply register, top up quickly and for free, and seamlessly invest in over 280 local companies listed on the PSE – all within the GCash app.
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