FREE Market Commentary: PSEi rallies on approval of tax reform

PinoyInvestor’s “Market Views and Commentaries” highlight our partner brokers’ analysis and opinion on a range of stock market issues and events. Be ahead of other investors by reading these reports to understand how our partner stockbrokers view important issues and how these events impact the stock market.

 

Market Issue or Event

PSEi rallies on approval of tax reform

Majority of the sectors in the Philippine market ended on the green side last week, on the back of the highly anticipated ratification of the tax reform program. The approved tax package would increase the take-home pay of workers in exchange for hiked taxes on fuel, vehicles, and sugar sweetened beverages, and expansion of the value added tax base.

 

Our Partner Broker’s View and Commentary

The highly anticipated tax reform program is expected to generate approximately PHP 130 billion, it will also result to a higher take-home pay for the people as individuals earning at least PHP 250,000 annually will be exempted from personal income tax.

Following the developments in the TRAIN Bill, we reiterate that our sectors picks are banks are consumer retails with sector picks of BDO (Buy, PHP 165.00), MBT (Buy, PHP 110.00), BPI (Target Price: PHP 107.00), WLCON (Buy, PHP 10.00), PGOLD (Target Price: PHP 55.80), RRHI (Target Price: P110.00), and MRSGI (Buy, PHP 5.00).

 

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AP Securities (formerly Angping & Associates Securities)
AP Securities (formerly Angping & Associates Securities)

AP Securities (formerly Angping & Associates Securities) is one of PinoyInvestor’s partners in delivering superior and reliable stock research reports that help Filipino investors make smart stock investing decisions! Learn more about them here.