iShares MSCI Philippines (EPHE)
NYSEArca - NYSEArca Delayed Price. Currency in USD
- Barrons.com•9 hours ago
The Philippines is growing fast and has a better growth profile than Vietnam or Indonesia, according to Nomura Securities, which upgraded the Philippine stock market to Overweight even though the PSE Index trades at an expensive 20.9 times trailing earnings. Nomura sees the Philippines growing at 6.7%, 6.3% and 6.5% in 2016, 2017 and 2018, respectively.. "We expect the Duterte government to make more progress on infrastructure spending than its predecessor and boost reforms, particularly by cutting red tape and implementing comprehensive fiscal changes despite the current political noise," wrote economist Euben Paracuelles. The Philippines has been a rising star in Asia, but it's not reached its full potential yet.
During his first state visit, the Philippine President Rodrigo Duterte told hundreds of Filipinos in Beijing on Wednesday night that "it's time to say goodbye" to the U.S. and there will be "no more American interference, no more American exercises". As Duterte pivots towards China, Beijing is offering through its state-owned China Railway Group (390.Hong Kong) to invest as much as $3 billion in Philippine infrastructure projects in the next few years. Citi Research estimates that a $1 billion investment into the Philippine construction sector can lead to 8.5% annual growth in the sector and the Philippines' GDP can rise by 0.8%, through spillovers in manufacturing and utilities sectors.
- Barrons.com•9 days ago
Philippines' President Rodrigo Duterte has an 86% approval rating according to survey results released Wednesday, despite the threat that his aggressive leadership style could deter foreign investors. Results of a Pulse Asia survey indicate the controversial Duterte received an 86% rating for "approval and for "trust." A total of 1,200 adults were questioned from Sept. 25 to Oct. 1, GMA News Online reports. The iShares MSCI Philippines exchange-traded fund (EPHE) was down 0.7% in recent trading. Shares in the Philippines have underperformed other emerging markets year to date.