Consumer, property stocks are top picks for 2014

MANILA, Philippines – Consumer and property stocks will continue to be the top stock picks for next year. Ali Yu, president of brokerage RS Lim and Co., said consumer stocks are likely to perform in 2014 amid prospects domestic demand will continue to lift the economy. “Stocks like Puregold and Jollibee, there have been reports saying that the Philippine economy is consumer-driven and they still believe and look forward to 2014 as carrying momentum for consumer-related stocks. Retail is a very strong sector that has been proven to be generating income for companies,” Yu told ANC on Monday. Property stocks, meanwhile, will be supported by low interest rates that encourage borrowing for first-time home buyers, mostly overseas Filipino workers (OFW). “It’s really a question of where to park funds, they believe that although high, there is still potential upside to the market and our OFWs, they really look forward and plan ahead. The first thing they really want to do is to get a place of their own, way from the province that they came from or if they have kids in the metro and plan to study here, it’s like an investment for them to save money on transportation,” said Yu. Yu added that even in strong corrections, consumer and property stocks have proven that it can rebound “the minute signs of strength or signs of being oversold materialize.” - ANC