iShares MSCI Philippines (EPHE)
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- Benzinga•13 hours ago
Rodrigo Duterte has been serving as the president of the Philippines for less than four months now, but he has already managed to make a name for himself internationally. The head of state made headlines ...
In case you missed the comments on the Philippines in The Wall Street Journal and Barron's over the weekend, they are required reading for anyone questioning the longstanding relationship between the United States and the Pacific island nation. Shares in the country, as represented in the iShares MSCI Philippines exchange-traded fund (EPHE), are up nearly 9% year to date, but has sorely underperformed other Asian markets and the iShares MSCI Emerging Markets ETF (EEM), which is up 17% this year. As Barron's columnist William Pesek noted in our Up and Down Asia column over the weekend -- in "Duterte Sells Philippines to China on the Cheap" -- Duterte's efforts to cut drug use and trade is important, "but the 3,300-plus corpses piling up around the nation won’t hasten gross domestic product growth." The first part of the WSJ story discusses President Rodrigo Duterte's steel grip on crime, his attempt to break military ties with the United States, overtures Duterte has made in China and his desire to spread economic wealth more evenly across society.
- Barrons.com•4 days ago
The Philippines' president, Rodrigo Duterte, reversed his call for "separation" from America, announced hours earlier in China, saying he cannot cut U.S. "diplomatic relations." Duterte made the anti-U.S. comments in China with some 400 Filipino business leaders listening in, and then stepped back from them once safely back in the Philippines. Here's the language, from Reuters: "On Thursday, Duterte had told Chinese and Philippine business people at a forum in Beijing's Great Hall of the People that America had "lost now," as he sought what he calls a new commercial alliance with China. ... Duterte struck a more conciliatory tone as he arrived back in the Philippines after a four-day visit to Beijing. When you say severance of ties, you cut diplomatic relations.