Local funds snap up PH stocks while foreigners sell 0 SHARES Share it! Local stock valuations have become too attractive to pass up, according to Helen Oleta, head of trading at Rizal Commercial Banking Corp., and Robert Ramos, chief investment officer at East West Banking Corp. Both prefer large-cap stocks such as Ayala Corp. and SM Investments Corp., seen as the likely leaders of a recovery after virus concerns dissipate. Rizal’s Oleta said first- and second-quarter corporate results could help stabilize the equities market. “Many names are very attractive but we remain selective,” as it remains uncertain how long the stock market downturn will last, said Oleta.

Source: Manila Bulletin March 03, 2020 13:52 UTC