Despite global uncertainties, the country is expected to remain one of Southeast Asia’s fastest-growing economies, according to officials of the financial firm.
The Philippines is sitting on a goldmine of untapped initial public offering (IPO) opportunities, with over 400 large unlisted companies and state-owned enterprises (SOEs) that could expand the market if reforms make the process more attractive.
The Gokongwei family-led Cebu Air Inc., the operator of Cebu Pacific, announced a P2-billion plan to repurchase common and preferred shares to enhance the stock’s value
The Philippine Stock Exchange index saw its biggest pullback since entering bull market territory last week, dropping 2.1 percent to 7,272.65 as investors booked profits ahead of the release of inflation data.
The Consunji Group has received approval from the Philippine Competition Commission to acquire Cemex Holdings Philippines, moving the group closer to acquiring the country’s fourth-largest cement company by the end of 2024.
Philippine stocks surged to a two-month high, buoyed by dovish signals from the US Federal Reserve and the possibility of a Bangko Sentral ng Pilipinas rate cut later this year.
Foreign activity is significant but not the only factor in stock picking; earnings prospects and attractive prices are key, according to AP Securities.