after it became clear Ferdinand “Bongbong” Marcos Jr., the namesake son of the late dictator, was headed for a landslide win on Monday’s presidential elections.
It also advised investors to lessen their exposure to local stocks given its view to “downgrade the Philippines to underweight.” The drop erased about P142 billion in market value on Tuesday, valuing the local stock market at P13.75 trillion, PSE data showed. ING senior Philippine economist Nicholas Antonio Mapa said they were hoping the incoming administration would shed light on plans to grow the economy while facing inflationary pressures in the postpandemic period.
Source: News Formal (newsformal.com)
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