PH stocks unaffected by Zambo crisis
  • 5 years ago
MANILA, Philippines - Philippine stocks opened the week higher, even as the crisis in Zamboanga City entered its second week. As of 10:55 a.m., the benchmark index was 87 points or 1.4% up at 6,220.41. In an interview on ANC, RTG & Company president Ramon Garcia said outside factors will continue to have little effect as investors shift their attention on the "basic fundamentals." "As you can see, the market is up regardless of what happened in Zamboanga. So I think the investors now are really educated to really look at the fundamentals of the market rather than outside factors influencing the market," said Garcia. Garcia said rather than factoring the Zamboanga crisis, investors should look at a company's bottom line when deciding to buy a stock. "As long as the bottom line are on a positive effect, the market would be on its upward trend," he said. Garcia also estimated that, despite describing it a "wavy, slow climb," PSEi will reach 6,500 by the end of the year. Mornings@ANC, September 16, 2013