PSE index breaches 5,800 level, posts 37th record-high
MANILA, Philippines - There seems to be no stopping its bull run as the Philippine Stock Exchange (PSE) Index closed on a 37th all-time high for the year on Tuesday, December 11.
The PSEi surged 1.28% or 73.96 points to 5,831.5 points, the first time in bourse' history the main index breached the 5,800 level.
The All Share index grew 0.87% or 32.31 points to 3,728.7 points.
"Moving past the 5,800 level in a matter of weeks reinforces the view that investor confidence in our market is also at an all-time high," PSE President and Chief Executive Officer Hans B. Sicat said in a statement.
"While positive local developments have definitely served us well, an improvement in the outlook for the US, Eurozone and Chinese economies should help fuel more upside," he added.
Around 5.84 billion shares were traded at a value of P7.08 billion.
Gainers, 87, outnumbered losers at 83 while 47 stocks remained unchanged.
The PSEi closed the first trading day of the week on Monday at 5,757.54 points, lower than Friday's close at 5,794.20 points. - Rappler.com