Can softer delisting rules save Manila’s bourse from hollowing out?

[MANILA] As corporate capital flees to healthier markets overseas, the Philippine Stock Exchange (PSE) is reviewing whether companies should be expelled from the bourse as it seeks to prevent further erosion in the number of companies listed. 

The rethink comes as the exchange is also facing a slew of voluntary exits by companies that believe their shares are undervalued.

But analysts warned that the struggle to shore up the number of listings on the exchange is masking a bigger problem as Manila cedes ground to more dominant hubs in South-east Asia – the systemic lack of liquidity.