IHT: Philippines gets reprieve from pension fund -
[Cached Version]
Published on: 2/18/2004
Last Visited: 2/19/2004
"This is creating an overhang at a time when investors are faced with elections concerns," said Allan Yu, a fund manager at Metropolitan Bank Trust."But a pullout by Calpers would probably be done over time."
Overseas investors so far this month have sold more Philippine stocks than they bought, shedding 137 million pesos, or $2.44 million, worth of shares.Last month, they were net buyers, with purchases exceeding sales by 938 million pesos. .Yu said a withdrawal by Calpers would probably hurt the share price of the local stock market's biggest companies by market value, including San Miguel, Philippine Long Distance Telephone, Globe Telecom and Ayala. .
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"This is creating an overhang at a time when investors are faced with elections concerns," said Allan Yu, a fund manager at Metropolitan Bank Trust."But a pullout by Calpers would probably be done over time."
Overseas investors so far this month have sold more Philippine stocks than they bought, shedding 137 million pesos, or $2.44 million, worth of shares.Last month, they were net buyers, with purchases exceeding sales by 938 million pesos. .Yu said a withdrawal by Calpers would probably hurt the share price of the local stock market's biggest companies by market value, including San Miguel, Philippine Long Distance Telephone, Globe Telecom and Ayala. .
...
"This is creating an overhang at a time when investors are faced with elections concerns," said Allan Yu, a fund manager at Metropolitan Bank Trust."But a pullout by Calpers would probably be done over time."
Overseas investors so far this month have sold more Philippine stocks than they bought, shedding 137 million pesos, or $2.44 million, worth of shares.Last month, they were net buyers, with purchases exceeding sales by 938 million pesos. .Yu said a withdrawal by Calpers would probably hurt the share price of the local stock market's biggest companies by market value, including San Miguel, Philippine Long Distance Telephone, Globe Telecom and Ayala. .
...
"This is creating an overhang at a time when investors are faced with elections concerns," said Allan Yu, a fund manager at Metropolitan Bank Trust."But a pullout by Calpers would probably be done over time."
Overseas investors so far this month have sold more Philippine stocks than they bought, shedding 137 million pesos, or $2.44 million, worth of shares.Last month, they were net buyers, with purchases exceeding sales by 938 million pesos. .Yu said a withdrawal by Calpers would probably hurt the share price of the local stock market's biggest companies by market value, including San Miguel, Philippine Long Distance Telephone, Globe Telecom and Ayala. .