Uncertainty over Philippine president alarms investors

Philippine President Rodrigo Duterte’s bloody anti-drug war and his foul-mouthed outbursts in defense of the campaign have unnerved foreign investors in one of Asia’s fastest-growing economies. Analysts and businessmen point to uncertainties about Duterte’s policies and flip-flopping pronouncements as largely to blame for foreign selling in the stock market and the peso’s plunge to a seven-year low, reversing the initial optimism after his June 30 inauguration. A Filipino trader stands in front of an electronic board showing the exchange rates (AP Photo) Some experts say unpredictability is slowing longer-term foreign investment in the Philippines. Photos and reports in the media of killings of suspected drug dealers and users — more than 3,000 since July 1 — have contributed to sagging confidence. The American Chamber of Commerce of the Philippines said this month that while the country’s economic fundamentals are strong and its potential high, there is growing concern that Duterte’s...