The benchmark Philippine Stock Exchange index (PSEi) fell by 109.02 points or 1.58% to close at 6,759.90 on Friday while the broader all shares index shed 41.46 points or 1.13% to close at 3,621.70. READ:
The benchmark Philippine Stock Exchange index fell by 109.02 points or 1.58% to close at 6,759.90 on Friday while the broader all shares index shed 41.46 points or 1.13% to close at 3,621.70.
“If all goes well, a new president would have been elected by the time our next weekly note goes out. Power shifts tend to cause investor jitters in lieu of policy uncertainties and unwinding of execution risk, but also tend to benefit equity-holders in the medium term, owing to higher consumer spend and aggressive policy rollouts,” 2TradeAsia.com said in a report.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added that election-related spending could be a boon for the economy.
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