As-Pac stockmarkets as of last Friday closing:
(1) Year to date (ytd, January 1 to May 18), worst
performing are PH (-10.4%) and ID (-9%); best performing are HK (3.8%) and
MY (3.2%).
(2) 52 weeks (May 18, 2017 to May 18, 2018), worst
records are Sri Lanka (-3.8%) and PH (-1.2%); best records are HK (23.3%) and
DJ CN (19.2%).
(3) Past 3 years (May 2015 to May 2018), worst achievers
are Shanghai (-9.3%) and Sri Lanka (-3.6%); best achievers are NZ (14.5%) and
India (8%). PH down, -1%. Gains of the previous admin so far have been erased
by the current admin.
Source: WSJ.com
Notice that Indonesia wants to
overtake the PH as worst performer ytd, why? My Indonesian friend, Dr. Aco Patunru has a quick explanation -- recent bombing, military (and paramilitary)
shows of force, anti-import rhetorics etc.
Rising world oil prices and US rate hikes cannot be the reasons because these affect all countries not just PH and ID and
yet other countries are not so adversely affected. The main explanations should
be internal/domestic. In the PH, it's the continuing Du30 indirect attacks on business -- closure of Boracay for six months, high taxes on energy (oil, lpg, coal, VAT on transmission), other products, continuing uncertainty due to TRAIN 2, recent diplomatic war with Kuwait, etc.
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