Interest rates to weigh down Philippines shares

Philippines share prices are likely to continue taking a beating next week from high interest rates, spawned by inflationary pressures both here and abroad, a dealer told AFP on Friday. "Interest rates in the Philippines and likewise globally now have a tendency to be pushed upwards due to inflationary concerns," said Nestor Aguila of DA Market Securities Inc.
While many local stocks are trading below their book and net asset value, investors still want to see how their quarterly earnings fared in the face of higher oil prices and higher inflation rates, said Aguila.