PSEi may hit 9,000 next year – BPI Securities

The local stock barometer may climb to as high as 9,000 in the coming year, setting a new index record as robust earnings and macroeconomic growth fuel investor optimism, said the local stock brokerage arm of Bank of the Philippine Islands. In an investors briefing, BPI Securities president Haj Narvaez said the companies constituting the Philippine Stock Exchange index (PSEi) may sustain a growth of 12 percent next year, matching this year's likely full-year level. Banks, property, and the resurgent consumer sector are the counters that BPI Securities expects to outperform in the coming year. "We are currently trading at around 16 times forward earnings, near the market's 10-yea...

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