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| English: Coat of arms of the Philippines (Photo credit: Wikipedia) |
Financial IQ Philippines Quick Hit(s):
The Philippine stock market is one of the best performing on the global financial market. If you are a contrarian, you may want to guard your optimism and invest with more caution.
Amid growing investor confidence spurred by government and private spending, the narrowing trade deficit, and sound economic policy and fiscal management, investment analysts from Philam Life state that the Philippine Stock Exchange index (PSEi) has enough momentum to hit 6,000 points by next year.
In a recent press briefing at The Peninsula Manila, Junie Banaag, First Vice President & Equity Fund Manager of Philam Life, said that the PSEi has advanced better than other stock markets over the past two years.
“The PSEi’s 32% growth from 2010-2012 outpaces that of the S&P 500, the Indonesian and Malaysian Stock Exchanges, Germany’s DAX, and even the Dow Jones Industrial Average,” said Banaag. “Strong economic fundamentals and the Philippine government’s effective management of fiscal and monetary positions will fuel the growth of the Philippine market.”
Banaag also points out that the Philippines has “one of the fastest growing economies” in the region and the world as of late. He points to the 5.9% GDP performance of the country in Q2, which he says makes the Philippines the fourth fastest growing economy in Asia, trailing behind China, Sri Lanka, and Indonesia. Moreover, Banaag feels positive about the recent credit rating upgrades for the Philippines, and is excited about the country’s prospects of making investment grade in the near future, which he says will surely bring in fresh funds and more investors into the country.
http://philstar.com/business/2012/12/05/881011/philippines-next-investment-hotspot
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