Day 2 at PSE: Index breaks 5,900, hits another record
MANILA, Philippines (UPDATED) - After posting a new all-time high on the first trading day of the year, the Philippine Stock Exchange Index (PSEi) broke the 5,900 level by end of the second trading day of 2013.
On Thursday, January 3, the PSEi closed at 5,934.05 points, up 73.06 points or 1.25% as the US, the world's largest economy, averted falling off a fiscal cliff."
In 2012, the PSEi reached all-time high levels 38 times, showing a stellar performance with a 32.95% annual growth, the second highest in Southeast Asia next to Bangkok's 35.76%.
The broader All Share index also ended on a positive note with 3,762.88 points, up 36.09 points or 0.97%.
A total of 2.33 billion shares worth P7.298 billion changed hands on Thursday. There were 121 advancers and 47 decliners. Around 43 shares remained unchanged.
"The stock market's performance in 2012 re-wrote the record books in a big way, as seen in the new highs we've experienced across almost all market indicators," PSE President & CEO Hans B. Sicat said in a January 3 statement.
"Investor confidence in Philippines, Inc. is also at an all-time high, and this can only serve to strengthen our market as we tackle new challenges and opportunities in 2013," he added, stressing that the exchange has "lined up several initiatives in the coming months to take advantage of the favorable business environment." - Rappler.com