“Philippine (PASHR) stocks, Asia’s most expensive equities, may rise a further 25 percent this year as the economy grows, according to Jonathan Garner, Morgan Stanley’s chief Asia and emerging-market strategist.
The Philippine Stock Exchange Index (PCOMP) rallied 23 percent in 2012 to a record yesterday, the world’s fifth-best performer, amid government plans to boost spending while narrowing thebudget deficit. The gauge’s valuation of 16.4 times estimated earnings is the highest of 15 Asian Pacific markets tracked by Bloomberg and is approaching the biggest premium to the MSCI Emerging Markets Index since November 2006.”
If you enjoy the content at iBankCoin, please follow us on Twitter
