By ASSIF SHAMEEN
“The recent emerging-markets rout solved much of that problem by taking Manila’s shares down more than 16% from their April peak. One reason Philippine stocks sold off is that investors fleeing emerging markets needed to sell their most liquid and best stocks.
Now trading at just 15.5 times next year’s earnings, the Philippines clearly doesn’t look too expensive, argues Alfred Dy, head of research for CLSA in Manila.
“The disappointments were in casino-related stocks,” notes Dy. China’s crackdown on corruption and conspicuous consumption has hurt Manila casinos as much as those in Macau.
As a big oil importer, the Philippines benefits from cheaper oil, which also keeps inflation low and a lid on local interest rates.
What are the companies included in the Philippine Composite (30 companies)?
More information on this link (http://pse.com.ph/stockMarket/marketInfo-marketActivity.html?tab=1&indexName=PSEi)