THE Philippine equities entered the bull market Monday and it looks like the run will continue, Bloomberg reported.
The Philippine Stock Exchange Index climbed to 8,100 points, more than 22 percent from a November low. It is now the best performer in Southeast Asia and one of the top gainers in Asia this year.
Philippine peso is also strong, making it one of the best performing currencies in the region.
Bloomberg said foreign investors have returned to the Philippine market, pouring more than US$455 million into equity funds this year.
Last year, US$1 billion foreign funds were pulled out of the market party due to US-China trade war, high inflation rate and weak peso.
Analysts predict the equities market may propel to 8,500 level with stronger corporate earnings, and expected easing of monetary policy by the Central Bank.
