Eye on Earnings: Investors’ taste for conglomerates

Philippine conglomerates’ profit growth from their main businesses has outpaced the performance of the benchmark stock index in the third quarter (3Q) and first nine months of the year.

Despite this, investors appear to have an unfavorable sentiment for the sector. Holding companies seen a steeper decline than the Philippine Stock Exchange Index (PSEi) during the market drawdown, as investors turned to defensive names.