Foreign media blames Duterte for stock market losses

As of August, prices of local stocks are continuously weakening. When the President won by a landslide last May, there was an uphill climb of the Philippine Stock Exchange Index causing the local stock prices to also strengthen. But from July 21, it went downhill until last Friday, September 09, 2016.

The word war between the US President and President Duterte was also sited as one of the reasons why there is a weakness of the Philppine market stocks.

Many of Duterte’s critics and even the foreign media blamed the mounting of stock market losses to his contentious war on drugs and to his foul language or cursing. However, one of the fund manager proved this accusation wrong.

There are many reasons for the market’s weakness last month, and the President’s constant cussing is not among them. In fact, many of the stockbrokers has a positive view about this downturn. They said that it just gives a big opportunity for the local investors. Critics sees this change as one reason of the Philippines’ economic downful, but for some, this is a diquise for great opportunities.

There is a legit explaination to this loss, and the Duterte’s cursing and “war on Drugs” has nothing to do with them. But many groups are blaming the President for this downfall. And one of these group is the media.Duterte’s supporters blatantly accused the media for being bias in reporting and they are the number one reason why there are many misinformed individuals until now.

Experts explained why there is a downfall of the market stocks starting from July 21, 2016. Please follow this link for the complete detail.

 

Source: Inquirer.net

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