Philippine Stocks Are the World's Best Performers Right Now
- PSEi climbs for third day, bringing gain to 4.5 percent
- BDO Unibank sees index hitting 8,000 sooner rather than later
Photographer: Taylor Weidman/Bloomberg
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After rounding their worst year in a decade, Philippine stocks are off to a roaring start in 2019 with the Southeast Asian nation’s benchmark equities index beating all its global peers.
The Philippine Stock Exchange Index is climbing for a third straight session, pushing its gain this year to about 4 percent, the second best-performer among the global equities indices tracked by Bloomberg. The PSEi climbed 1.1 percent to 7,761.11 Friday, as inflation, a major scourge that sank the market into bear territory in 2018, cools down. The government said today December inflation slowed to 5.1 percent, the weakest since May.