Philippine: Stock Exchange (PSE) president and CEO Hans Sicat on Sunday said the market is expected to go up whoever will win the 2016 presidential election.
“We think it may be quite positive. At any administration coming in, it’s a combination of change and hope,” Sicat said in a press conference after the company’s stock holders’ meeting at the Wack-Wack Golf Club in Mandaluyong city on Saturday.
Sicat’s announcement came as share prices on the PSE started to fall at the latter part of April.
Sicat added that historically, during the past four presidential elections, the market went up six months after a new administration took over.
“The volume has actually increased consistently,” he added.
Sicat reiterated that the stock market is not personality dependent as far as the elections is concerned.
“People are staying out of the market. It’s not a vote for or against a particular candidate. I think people are just waiting in a more opportunistic way,” he said.
Sicat added that worries about presidential frontrunner Rodrigo Duterte’s lack of economic policy in his platform are over dramatized.
“All the candidates including him (Duterte) seem to have reasonable and competent team of economic advisers.”
