J.P. Morgan drops PH to bottom of Asean investment preference list after May 9 polls

📆 5/11/2022 3:10 AM
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MANILA, Philippines — American financial services giant J.P. Morgan dropped the Philippines to the bottom of an investment list comprised of its Southeast Asian peers in a new report released

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.

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J.P. Morgan downgrades PH stocks to 'underweight'J.P. Morgan Global Research has downgraded the Philippines to “underweight” and ranked it last in the order of preference in ASEAN in its equity investment strategy immediately after the conclusion of national and local elections. Why? 😓😓😓😓BBM will prove to all of you that he can be the best president of Ph. tang ina nyo mga bbm supporters Hala JP MORGAN masabihan kayong pinklawan
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