Data showed that from a high of 9,078.37 in January 2018, the 30-stock Philippine Stock Exchange index has plunged 32 percent as of October 2022 market close. The index was not able to get away with the global markets sell-off due to looming concerns of high inflation, the hawkish stance of global central banks and a strong US dollar against other major currencies.
“If you start accumulating blue chip shares now when its current value is lower than its medium-term historical average, just imagine the potential earnings upside should the index return to the 9,000 level as a result of our country’s unique business prospects,” said BDO Securities chief operating officer Bernhard Tsai.
“The PSEi may finally carry out a more significant rally once a successful re-test of the 5,700 support area is done. Once confirmed, take advantage of this unique opportunity to buy good valued stocks at levels lower than its medium-term historical average. Because in the long run, good companies like these blue chip stocks are expected to rise,” he said.
BDO Securities is a full-service, multi-product brokerage firm, and a wholly-owned subsidiary of BDO Unibank’s investment banking arm BDO Capital & Investment Corp.
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