EPHE: State Of Emergency, All Of ASEAN Exposed To Middle East Oil Supply

Valkyrie Trading SocietyInvesting Group LeaderFollow5ShareSavePlay(9min)CommentsSummaryThe iShares MSCI Philippines ETF trades at a low 9.6x P/E, offering relative value among ASEAN peers despite macro headwinds.EPHE is heavily indexed to International Container Terminal Services (21.4%) and financials, making it exposed to trade flows and macro conditions.High oil prices are an FX threat, as a lot of selling needs to be done to cover USD-denominated barrels. It's also a concrete economic scarcity.While a steepening yield curve supports financial interest margins, the general macro risk is not good for the banking exposures.It could be a nice recovery play on China but the whole region is dependent on ME oil imports. There could be challenges with the war's end not in sight.Looking for a helping hand in the market? Members of The Value Lab get exclusive ideas and guidance to navigate any climate. Learn More » Nikada/E+ via Getty Images The iShares MSCI Philippines ETF (EPHE) is a pretty interesting ETF. PE ratios are pretty low here for an economy that is probably above average as far as emerging economy profiles go. There is quite aThis article was written byValkyrie Trading Society5.53K FollowersFollowThe Valkyrie Trading Society is a team of analysts sharing high conviction and obscure developed market ideas that are downside limited and likely to generate non-correlated and outsized returns in the context of the current economic environment and forces. They are long-only investors.They lead the investing group The Value Lab where they offer members a portfolio with real time updates, chat to answer questions 24/7, regular global market news reports, feedback on member stock ideas, new trades monthly, quarterly earnings write-ups, and daily macro opinions.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.