Traders work beneath an electronic ticker at the trading floor of the Philippine Stock Exchange in Bonifacio Global City .
The market is also seen to benefit from government’s plan to reduce banks’ reserve requirement since “not all funds could be accommodated in upcoming fiscal bond or corporate note issuances.” It is also bullish on LT Group after the firm’s tobacco delivered strong results on higher volumes and a favorable sales mix. “It is one of the cheapest conglomerates despite having one of the fastest growth rates,” Abacus said.
Source: News Formal (newsformal.com)
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