As debt fears ease, investors return to Philippines
Local stocks are on their way to greater heights, with the main index likely breaching 4,900 by yearend and 5,600 next year, as investors get over global concerns and focus on rosy domestic fundamentals, says leading online stockbrokerage CitisecOnline.
In a briefing on Wednesday, CitisecOnline head of research April Lynn Tan said the challenges facing the global economy were starting to fade following the resolution of US and European debt problems.
As such, she said “the market’s focus will go back to the Philippines where fundamentals are a lot stronger.”
At the same time, Tan said inflation was peaking, which means that the local central bank may be at the tail-end of its monetary tightening cycle. She added that global funds were flowing back to emerging markets from developed markets, while the global economy was expected to perform slightly better this second semester relative to the first half. Read More
