Short-Selling Debuts in the Philippines After a 27-Year Wait bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
MANILA: Philippine stocks have rapidly gone from one of the world’s best performers to the absolute worst, prompting the nation’s growing pack of retail investors to shift attention to speculative penny stocks in the search for better returns.
The Philippine Stock Exchange Index is down 7.4% so far this year, the biggest decline among 92 global equity benchmarks tracked by Bloomberg.
That’s a dramatic turnaround after the gauge’s 22% surge in the three months ended December saw it ranked No. 16 for that period.
Faced with a decline in the nation’s biggest stocks amid an exodus of foreign investors and a weak economy, local individual traders are shifting to riskier plays, mirroring their global peers.
Manila: Philippine stocks have rapidly gone from one of the world s best performers to the absolute worst, prompting the nation s growing pack of retail investors to shift attention to speculative penny stocks in the search for better returns.
The Philippine Stock Exchange Index is down 7.4% so far this year, the biggest decline among 92 global equity benchmarks tracked by Bloomberg. That s a dramatic turnaround after the gauge s 22% surge in the three months ended December saw it ranked No. 16 for that period.
Faced with a decline in the nation s biggest stocks amid an exodus of foreign investors and a weak economy, local individual traders are shifting to riskier plays, mirroring their global peers. U.S. retail investors have been piling cash into small caps, initial public offerings and options as the S&P 500 Index has treaded water so far in 2021.