Traders anxious of Duterte; markets to respond positively to Mar, Poe —MBC president

He may be topping the presidential preference polls but Davao City Mayor Rodrigo Duterte is considered by business leaders as the most unfamiliar when it comes to economic policies, the president of the Makati Business Club said on Tuesday.

In contrast, MBC president Ramon Del Rosario indicated that businessmen already have confidence in administration bet former Interior Secretary Mar Roxas and independent candidate Senator Grace Poe.

“Mayor Duterte is the one that is not very well known. That’s why we are hoping in the Makati Business Club, he would have talked much more about his economic policies and programs but he chose not to, so he is still unknown," Del Rosario told reporters on the sidelines of the EJAP-ING Forum in Makati City.

"Therefore there is still some anxiety about him,” he added.

Del Rosario said Philippine markets were expected to respond positively to Poe or a Roxas presidency.

“If the winner on May 9 is either Senator Grace Poe or Secretary Mar Roxas, I think the market reaction will be quite positive and there will be less hesitation moving forward. But it will be different if the results are different,” Del Rosario said.

“I just said the market players feel that they know Senator Grace Poe and Secretary Mar Roxas a little bit better in terms of the policies that they expect to come out of them. That’s the context for me saying that the market will reach in a more relaxed way if those two are the winners,” he added.

Del Rosario said Vice President Jejomar Binay is already “known” to market players, but cited the issues of corruption confronting the opposition candidate.

“Binay is a known factor but the charges of corruption against him are very negative,” Del Rosario said.

Del Rosario indicated that Senator Miriam Defensor-Santiago was also an unknown among business executives.

Del Rosario, in an opinion editorial published in a daily newspaper on Monday, said that Duterte “deserves close scrutiny” as he is the current frontrunner, leading presidential poll surveys.

Results of the latest Pulse Asia Poll revealed that Duterte continued to outpace his rivals, garnering a 33-percent approval rating. He was 11 points ahead of his closest rival, Senator Grace Poe. —NB, GMA News