Today, the Philippine Stock Exchange Index (PSEi) has again dropped by 142.46 points. This was yet another episode in what others say is a global chain shake-up of the world’s stock markets from China, Southeast Asia and New York.
As stock prices fall this may be a good opportunity for investors to do some bargain hunting in the exchange.
I for one has invested a small sum in a food and beverage company in the Philippines today. Its now a wait and see if my gamble or investment has paid off. On a fundamental side the food and beverage industry and the company looks promising this year. There is growth in non-carbonated drinks and expected higher demand for snacks and beverages due to the 2007 elections.
Up until December 2006 I was a puritan conservative investor. All my investments are mostly in insured high yield deposits in banks. Opportunity came last December when the IPO for Philippine National Energy Corporation – Energy Development Corporation (PNOC-EDC) was made available to the general public.
It was my first equity investment. I bought a just 2,000 shares at PHP 3.20 per share which was the minimum for small Filipino investors (the maximum was 7,000 shares). I just sold my shares through an online broker mid-February and made a profit of about 75 percent.
Now I consider myself as more of a moderate conservative investor.