3 sectors seen to fuel stock market growth
Norman F. Go, BPI Securities Cebu Equities sales head, explains why the stock market will continue to perform well in the next couple of years during a forum in Cebu City.
(CDN PHOTO/ CHRISTIAN MANINGO)
Consumer, gaming and infrastructure companies are expected to continue to drive the stock market’s growth in the next few years.
Norman F. Go, BPI Securities Cebu Equities sales head, said this is based on their firm’s periodical monitoring and projections of the stock market.
“The Philippines is a 70 percent consumer-driven economy, and with an improved spending power now of majority of the Filipinos, we expect more spending on consumer goods,” said Go during a press briefing last Friday.
He said people in the past only eat at Jollibee maybe once a month or on special occasions, but, nowadays, people eat at Jollibee almost every day.
He said consumer spending is further complemented by increasing tourism traffic to our country and growing the outsourcing industry that has created more disposable income for millions of Filipinos now working for the different outsourcing companies.
Among the listed companies that he thinks is best to invest in are D&L Industries and Robinsons Retail Holdings, Inc.
He said these companies have very diverse portfolio that caters across market segments.
Gaming, on the other hand, is likewise an industry to watch out for with huge investments from the Bloomberg group into the Philippines.
“Gaming is expected to continue to grow with Pagcor now allowing private companies to run their own gaming establishments,” he said.
Bloomberg which brought in Solaire in Manila has invested a lot in their facility and are bringing in a lot of the high rollers from around the world to the country, he said.
“Infrastructure is among the industries with very bright growth potential fueled by the governments PPP (private-public partnerships) all getting implemented starting next year,” said Go.
Overall, Go said the stock market is expected to remain bullish and among the best performing markets in the world.
He said now is the right time to invest in the market and participate in the growth.
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