MANILA: Consumer stocks are poised to benefit from higher spending for the mid-term elections in May, with stocks likely to trade higher at the start of 2019, an analyst said.
The consumer sector may see “low double digit” growth in earnings this year, Inflation is also expected to slow, said BPI Securities research head Haj Narvaez.
Share prices historically open higher in January and foreign investors are also looking at bargains in the region, particularly in China and South Korea, he told ANC’s Market Edge.
The Philippine Stock Exchange Index opened 0.41 percent higher at 7,496.57.