The top-performing Philippine stock fund in the past five years has more than doubled holdings of consumer companies as record remittances boost the spending power of shoppers in Southeast Asia’s fastest-growing economy.
The Philippine central bank is set to introduce a residential property-price index in the first half of the year as it intensifies monitoring of asset-bubble risks, Deputy Governor Diwa Guinigundo said.
Philippine three-year bond yields rose the most in seven months after data showing the fastest inflation since 2011 prompted the central bank to warn it has less scope to keep the benchmark interest rate on hold.
The Philippine peso fell to the lowest level since August 2010 after the central bank signaled it won’t raise interest rates to support the currency amid an emerging-market selloff. Government bonds advanced.