Always the student
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The stock market and the peso are again in the limelight as Noynoy Aquino refers to the strengthening of both as indicators of an improving economy, or alternatively, confidence in his new administration -- claims that are both empty.
The improvement in both are related but not necessarily the product of those in government at the moment. The peso has been appreciating and is now around 43 per dollar, largely as a result of the still robust remittances of Filipinos working abroad and the influx of money from investments funds that are placed short term either in the money markets or the stock market.
Global funds, which are managed investments whose main target is maximum profit, are looking at the emerging markets mainly in Southeast Asia for high returns and the Philippines happens to be among these markets..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20101031com1.html
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