Philippine stocks a ‘long-term buy,’ analyst says


Posted at Jul 29 2016 10:29 AM

MANILA – Philippine shares are a “long term buy,” notwithstanding an imminent decline should the United States Federal Reserve decide to increase interest rates, an analyst said Friday.

The Philippine Stock Exchange Index (PSEi) could test the 7,900 to 7,600 levels in case the US adjusts policy rates, DA Market Securities chief equity analyst Nisha Alicer said. It was up 0.45 percent to 8,061.26 in early trading.

“The Philippines is a long-term buy, it’s a medium term buy. Any pullback should not cause you any panic, it should be an opportunity,” Alicer told ANC’s “Market Edge with Cathy Yang.”

“Any pullback from external forces would be a great opportunity to come back into stocks in case you took some profits, add to your long-term medium-term positions,” she said.