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BDO Securities predicts that the PSE index could reach 7,500 this year.
According to BDO Securities Corp., the Philippine stock market would hit 7,500 by the end of 2023 if inflation declines and interest rates stabilize.
Abigail Chiw, head of research at BDO Securities, stated during a media roundtable in Mandaluyong City on Thursday that “we think the impetus for the stock market to rebound is if investors see a protracted decrease in inflation and expectation that interest rates will normalize following… Our 7,500 goal is predicated on forecasts about earnings growth.
On the final trading day of 2022, the Philippine Stock Exchange index (PSEi) ended at 6,566.39 points. It reached its highest point in January at 7,138.
“From a peak of around 7,100 levels in January, we are currently down to 6,500. And in reality, this is due to persistent worries about inflation, interest rates, and the weakening global economy, according to Chiw.
She cited the early-year local and international developments, such as the higher-than-anticipated inflation rate of above 8% in January and the worries about American and European banks, which caused interest rates to rise further and led to investors putting more of their money in fixed-income or bond securities with “very good returns” of roughly 6% to 7% interest rates.
The local stock exchange is still a fantastic place to invest, according to Chiw.
Therefore, we believe that present macroeconomic uncertainty will continue to impact the local market. For individuals with a longer-term perspective, we believe it is also an excellent time to invest in equities, she added.
Chiw noted that investors should think about stock selection and investigate industries that can offer better yield possibilities.
The financial sector has been a top performer since October of last year, according to Bernhard Aloysius Tsai, first vice president, and chief operating officer of BDO Securities.
Despite worries about the failure of banks in the US and Europe, Tsai asserted that Philippine banks are not overly dependent on these institutions.
According to him, banks are profiting from the increasing interest rates.
He noted that mining and oil are the “next best thing” in the local bourse after financials. (
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