“Everybody’s pointing to Duterte,” said Erwin Balita, a fund manager at BPI Asset Management in Manila. BPI manages around 700 billion pesos (US$14.5bil) in the Philippines. The stock market, one of Asia’s outperformers in 2015, has fallen 4% since late July. But he added: “The geopolitics is not helping the peso at the margin,” referring to the Duterte administration. Meanwhile, one fallout of Duterte’s erratic behaviour is likely to be the Philippines’ sovereign ratings.

Source: The Star October 04, 2016 23:19 UTC