Duterte takes on Philippine elite and ends up even more popular

Duterte takes on Philippine elite and ends up even more popular

The Straits Times - Asia·2020-01-28 17:11

MANILA (BLOOMBERG) - President Rodrigo Duterte is cracking down on some of the Philippines' biggest businesses, pushing a populist agenda that's endearing him to his supporters while putting off investors.

The nation's stock market has dropped as much as 11 per cent from its 2019 peak and valuation has fallen to its lowest since 2011 relative to peers as Mr Duterte stepped up his attacks last month.

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SE Asia Philippines President