By Neil Jerome Morales

MANILA (Reuters – The share prices of Philippine businesses linked to Ferdinand Marcos Jr, the presidential election winner, have risen this week on expectations that they will benefit from the incoming administration.

Since Monday’s victory, shares of at least three companies owned by Marcos or Rodrigo Duterte family friends have seen double-digit growth in rates. This is despite the fact that Marcos (and Sara Duterte Carpio, Sara’s vice-presidential running mate) won with landslides.

In the two most recent trading days, Philweb Corp and Araneta Properties Inc saw share prices rise by 13% and 45%, respectively.

Prime Media Holdings – a listing holding firm that is now inactive – jumped 28%. Meanwhile, DITO CME Holdings – owned by Duterte’s associate from his hometown and top contributor to the campaign – rose 12.4%.

Ron Acoba from Trading Edge Consultancy, Manila said that traders tend to buy shares of companies they believe would be benefitted by the incoming administration. We will have to wait and see.

Election-driven increases were a result of speculation that Marcos would create a favorable environment for them to pursue projects, or relax regulations. Carlos Temporal was an equity research analyst at AP Securities Manila.

Over the past 2 trading days, 2.2% of the broad stock index was lost.

Shares of media company ABS-CBN (and GMA Network) fell 18.4%, 10.7% and respectively due to fears that Marcos, who skipped debates and has avoided interviews during his campaign, might be hostile to the press.

Duterte is accused of intimidating media by using threats, licensing or legal obstacles. Free press was restricted under Marcos’s dictatorship.

“The market could be speculating another era of government-controlled media under Marcos’s administration which may prompt further shutdowns or takeovers of private media companies,” said Temporal said.