PH among JP Morgan’s favored markets

Local bourse seen extending its winning streak in 2013


Global investment bank JP Morgan has kept the Philippines among its favored stock markets this 2013 with a view that the main local index—despite the strong run-up in the past four years—could extend its winning streak by another 15 percent.

“We’ve been overweight on the Philippines since 2009 and we have no intention of changing that view,” JP Morgan’s chief for Asian and emerging market equity Adrian Moet said in a briefing Friday.

“From the perspective of the international equity investor, the Philippines is delivering low currency risk, high economic growth and high (corporate) earnings growth and that’s a very attractive proposition particularly against a still quite troubled world,” said Moet, who flew in from Singapore to speak in a forum organized by JP Morgan for large institutional investors keen on Philippine equities.

The forum this year, attended by around 70 institutional investors—mostly long-term investors who are new to the Philippines—is the biggest so far in the last seven years that JP Morgan has conducted such briefings to pitch local equities to the foreign market.

For 2013, the Philippines joins Mexico, Turkey, Thailand and India among the countries where JP Morgan has an “overweight” rating. “Overweight” is a recommendation to accumulate stocks in excess of a benchmark index, usually the closely-tracked MSCI index.

Moet said good macroeconomic stability, improving policies and prospects of demographic dividends—referring to a large pool of human resources reaching working age—were common to most of these markets (except Thailand).

On the other hand, JP Morgan has an “underweight” recommendation on Brazil, Taiwan and South Korea.  The investment firm has a “neutral” rating on China.

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  • mamamiamia

    Accept it mga Hija!  As long as the economic uncertainty is a number “1” problem of this generation and time . Emerging  economies  like the Philippins will be a “parking” investments of the “haves”.    Be wise and take advantage, opportunity knocks only once!

  • Melvin

    Kahit pa sa paanong anggulo mo tingnan iisa ang masisipat si GMA ay napakakurap walang  comma only period…

  • kismaytami

    This bank will surely make investors think twice.

  • regd

    This is a legitimate con company. They will full blast music to your ears but what it actually does is exploit the market. And when it’s “mission accomplished”, off they go with no contribution to the country whatsoever!

  • rjimenez1226

    You should worry once corrupt JPMorgan begin singing hallelujahs.

  • Weder-Weder Lang

    Here comes more hot money.

  • rodben

    Kahit na wala akong nagustuhang Pangulo after Marcos, since 2009 JP Morgan overweight daw sila sa Pinas together with Turkey and Thailand, so the good stock market in Pinas start with Ate Glo buti tinuloy ni Noy2 even no industries come-in bawi naman sa stock market mga negusyante, even no new jobs to the workers ok lang still OFW’s are very much welcome in other countries Pinoy sanay sa sacrifice , at sana marunong din MAGPASALAMAT ang Noy2 administrations sa Gloria administrations bilang Christianong bansa.

    • Romeo T

      wat..are u insane?..magpasalamat?…hahahaha….magpasalamt siguro kami kasi di korap si pnoy…di tulad nung nakaraang administrsayon…..and infairness, matalinong presidente si gloria pero NASIRA SYA SA ASAWA NYA…….

    • Diablo_III

      I think Gloria was not corrupt but she was overwhelmed with the influence of her BUWAYANG FG CROC d LACOSTE.. Kaya naging bulag-bulagan nalang siya. Sana may divorce dati para e divorce ni GMA yung BUWAYA niyang asawa na ngayon parang HIPPO na. 

      • manks

         100% agree ako sa sinasabi mo jan pre…

    • KpTUL

       Yeah .. Im not pro Gloria but they are really ovekilling this thing againts her. It pains me to see what she has been going through. She worked a lot you know and the peole just like completely shun her. What a shame for this country.

    • Jose

      Why do idiots on the internet thing decent economic performance excuses massive corruption?

  • Borogol

    yan din sinabi nila last year… pldt stocks daw 3000, bat until now wala pa? delayed ng 1 year?

    • Chris

      but you also have to check profitability.. study first before biting on those recommendations.

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