Was reading the Philippine Stock Market news through BusinessWorld’s website and indeed the PSEi has been making news for breaching so its highest high in a short span of time.
But as usual all that goes up will go down.. but I guess the PSEi’s retreat today is temporary. As my stock investor friends would always say “its a healthy correction.” In general, the Philippine Stock Market is on uptrend. With the new and upcoming IPO’s, being included in the N-11, and having a better confidence on the Philippine government and economy has really contributed in the recent growth.
I believe there is one more lacking in order to fully make the Philippine economy back on its Tiger economy status that is that its own people invest on the country.
Remember the report of the Bangko Sentral about Pinoys not having savings in the bank? Yes some Pinoys are afraid to put their money in the bank because of the bank runs and bank closure that has been happening here and there. But in general a small percentage of the Philippine population actual has a personal bank account for savings or checking purposes. If we could only start saving and then put that savings into an investment I am sure the Philippine economy will soar and even surpass Hong Kong or Singapore.
It is happening right now. The PSEi, the barometer of Philippine’s economy, has been going up and that growth will grow further if fresh funds and fresh investors will put in money. I guess all investment advocates should work further to achieve this dream.
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