Philippines' biggest money manager sticks with pricey property stocks
BDO Unibank expects property stocks to move higher and outperform as the sector grows with the economy
Manila
PHILIPPINE real estate stocks will extend a market-beating rally, the country's biggest money manager is betting, unfazed by the most expensive valuation in four years.
The Philippine Stock Exchange Property Index has climbed 24 per cent this year as investors became more sanguine about President Rodrigo Duterte's pivot to China and his US counterpart's insular approach to trade, which could hurt outsourcing companies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2