Philippine Stock Bulls Unfazed Amid Sharpest Drop in Six Weeks
- Market pullback is healthy given sound fundamentals, FMIC Says
- PSEi may rally to 8,500 in the near-term on earnings, BDO says
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The bull run for Philippine stocks still has legs amid tailwinds of stronger corporate earnings, cooling inflation and continued monetary stimulus.
The benchmark Philippine Stock Exchange Index entered the bull market on Monday after climbing more than 22% from a November low. The gauge is now the best performer in Southeast Asia and one of the top gainers in Asia this year. The surge was also propelled by a stronger peso, which has been among the best performing currencies in the region. The equities index shed 1.2% at the close Tuesday, the biggest loss in six weeks.