HSBC endorses PH equities

The Philippines is one of the most profitable countries in the Association of Southeast Asian Nations (Asean) when it comes to the equity market, according to banking giant HSBC.

“While the attractions of north Asia are now well understood, valuations in some southern markets are becoming attractive, especially when adjusted for sector biases. Indonesia and Malaysia are two examples, but China appears expensive. We advocate a gradual pivot back to selected markets in south Asia—but we do not fully depart from the north of the region,” HSBC said in the report “Asia Equity Insights Quarterly.”