Thursday 17 January 2019
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inquirer - 7 month ago

HSBC: PH economy strong, but stocks overvalued

Philippine stocks remain overvalued despite the correction in recent months that saw losses breaking the $20-billion mark as early as two months ago, but global banking giant HSBC believes the local economic fundamentals are strong enough to give the equity market an average performance this year. In a media briefing, HSBC private banking investment strategy head for Asia Fan Cheuk Wan said share prices on the Philippine Stock Exchange ---currently the worst performing market in the region---were still hig

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