Philippine stocks are up more than 6% since Ferdinand Marcos Jr. became the nation’s president almost 70 days ago. So far that puts him in third place among the nation’s last six elected presidents in terms of the equity market’s performance during a leader’s first 100 days in office, the so-called honeymoon period. The gain is partly due to Marcos’s selection of a “well respected economics team” and the nation’s reopening from Covid restrictions, said Francis Diaz, president at Luna Securities.
(Bloomberg) — Philippine stocks are up more than 6% since Ferdinand Marcos Jr. became the nation’s president almost 70 days ago. So far that puts him in third place among the nation’s last six elected presidents in terms of the equity market’s performance during a leader’s first 100 days in office, the so-called honeymoon period. The gain is partly due to Marcos’s selection of a “well respected economics team” and the nation’s reopening from Covid restrictions, said Francis Diaz, president at Luna Securities. That’s “an encouraging sign of return to normalcy and that the country is moving forward,” Diaz said.
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