Manila, Oct. 22 -- An executive of the Philippine Stock Exchange (PSE) said Thursday that the local equities market remains attractive amid risks from economic challenges both here and abroad, noting the record-high volume of the latest initial public offering (IPO).

This comes even as investors' worries continue to weigh on the main index, now at about 5,820.

Roel Refran, PSE Executive Vice President and Chief Operating Officer, in a panel discussion at the ongoing ASEAN Capital Markets Forum (ACMF) International Conference in Intramuros, Manila, said the success of the IPO of Mynt, the parent company of financial services app GCash, shows how resilient the local equities market is.

The Mynt IPO on Oct. 20 registered record-high volum...