PSEi hits 25th record high at 5,473.61
MANILA, Philippines - Local stocks rose slightly to hit a fresh all-time high on Tuesday, November 6, despite cautious trading on the eve of the US presidential election.
This is the 25th record-high close for the Philippine stock market, one of the best performing in the region, this year.
The main Philippine Stock Exchange index inched up 0.29% or 15.79 points to 5,473.61, beating its previous record close of 5,457.82 on Monday, November 5.
Stock prices rose on expectations of strong third-quarter financial results.
The broader all-share index went up 0.32% or 11.30 points to 3,595.47.
Except for the property sector, all sectoral indices ended in positive territory, led by the financials, which jumped 0.86%.
The country's top 2 banks -- Metropolitan Bank and Trust Co. (Metrobank) and BDO Unibank Inc. -- were the top traded stocks.
Metrobank rose 1.33% to P99.3 per share, while BDO climbed 1.01% to P65.
Ayala Corp., the country's oldest conglomerate, also rose 1.03% to P499.60 apiece. - Rappler.com