Manila – The ever worsening quarrels among President Duterte’s supporters and critics continue to have a disastrous effect on the stock market as foreign investors continue to pull out hundreds of millions of investments from local equities. The Philippine Stock Exchange index fell 1.11% yesterday to close at 7.58 in a continuous downturn since August.
According to Mario Tan, senior financial analyst at BPI, the trend is expected to continue and might even get worse considering the current state of the comment sections in many Facebook pages of local news sites. The bickering between Duterte supporters and critics has gone worse ever since the election campaign period.
“It would have gone the other way had the arguments from both sides been mostly sensible,” said Tan. “That is not the case, though, because most of the people from both sides are fucking idiots.”
The absence of logical and constructive arguments is causing a lot of uncertainty on the side of the investors thus affecting the local market negatively.