Asia’s Worst Performing Market Gets Rare Foreign Inflows: Chart
(Bloomberg) -- Philippine stocks, Asia’s biggest laggard this year with a 7.2% drop, are getting some love from overseas funds, which were net buyers for a third straight day -- the longest stretch of foreign inflows since October. While three days doesn’t make a trend, it’s still a positive sign as the last time there were net for foreign inflows into Philippine equities for a full month was October 2019. “Until investors see a stronger economic recovery and vaccinations gets traction this would be a rare occurrence,” says Jonathan Ravelas, chief market strategist at BDO Unibank Inc.
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