MANILA -Maybank Securities Philippines sees further upside for local equities as it revealed its latest stock picks and outlook for the year. For 2023, the stock brokerage house expects the benchmark Philippine Stock Exchange Index (PSEi) to close the year at 7,800, which translates to an 18-percent gain from its 2022 close. This would also be supported by corporate profit growth of 13 percent this year after earnings in 2022 came within or above expectations. Jacqui De Jesus, head of equity research at Maybank Securities, cited SM Investments Corp.

https://business.inquirer.net/397167/psei-projected-to-end-2023-at-7800

#inquirer