Stock investors eye bargains

Local stocks ended slightly lower on Tuesday, with the benchmark Philippine Stock Exchange index declining by 0.32% to 2,846.60 points on foreign selling. While volatility in the market continues, CitisecOnline research head April Lee Tan said investors are now positioning on stocks that hold strong fundamental merits, and are trading at attractive levels. She cited for example property giant Megaworld Corp., whose share price is now "below book value" at P1.10. "This is very cheap for a company like Megaworld," Tan said.