Local stock index hits 5,000 level, a record high


MANILA, Philippines – The local stock exchange, a barometer of the health of the economy, breached the 5,000 level for the first time during the morning trade on Thursday, March 1.

As of 11:17, the Philippine Stock Exchange index (PSEi) was at 5,0011.09, a new record high.

Analysts cite  market players’ anticipation of a new interest rate hike announcement by the central bank.

The monetary officials are scheduled to meet on Thursday afternoon. In January, they cut interest rates for the first time in many months to help boost the local economy. – Rappler.com


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