As economic sanctions loom over the Philippines as a result of the increasing tension between the Philippines and Taiwan what kind of effect will it have on the two countries?
PSEi hits 16th all-time high above 6,500
MANILA, Philippines (UPDATED) – Stocks soared to a new all-time high on Wednesday, February 13, taking their cues from the US market.
The Philippine Stock Exchange index rose 65.38 points or 1.01% to 6,525.31—its 16th record-high—from Tuesday’s close of 4,459.93. It also hit a new intraday peak of 6,531.79.
The broader all-share index rose 28.64 points or 0.70% to 4,094.18.
All sectoral indices advanced, led by property, which climbed 2.36%.
A total of 2.2 billion shares worth P8.28 billion changed hands.
Most active grocery chain Puregold Price Club Inc. went up 1.55% to P36 per share.
SM Investments Corp., the second most actively traded, inched up 0.40% to P36 apiece.
Food and beverage company Universal Robina Corp. jumped 2.20% to P93.
Most Asian markets ended higher on Wednesday following a healthy lead from Wall Street.
The Dow rose 0.34% overnight and ahead of US President Barack Obama’s State of the Union address to its best close since October 2007. The S&P 500 added 0.16% to also reach a fresh 5-year peak, but the Nasdaq slipped 0.17%. – Rappler.com
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