PSEi posts 10th all-time high, nears 6,200 level
MANILA, Philippines - The Philippine Stock Exchange benchmark index (PSEi) posted its 10th record high for 2013, ahead of the government's 2012 Gross Domestic Product (GDP) announcement on Monday, January 28.
The main index, an indicator of investor confidence, closed at 6,192.42, up 24.78 points or 0.40%.
It broke the 6,139.21 record close last January 21. In 2012, the index posted 38 all-time highs.
"Asian markets today were optimistic on global growth given favorable economic data from China on industrial profits. This further affirms the long-term growth story of the Philippines which continues to attract investors to the stock market," PSE President and Chief Executive Officer Hans B. Sicat said in a statement.
Index heavyweight PLDT was down a few notches to close at P2,784, but kept its position as the most valuable company in the Philippines with a P601.5 billion market capitalization as of trading close Monday. The telecom giant has regained its top ranking and has stayed on top since January 11.
Conglomerate SMIC trailed behind after it closed at P945 apiece, translating to a market cap of P588.7 billion at the end of the day.
A total of 2.27 billion shares traded hands at the exchange on Monday, valued at P9.06 billion.
There were 101 gainers, 61 decliners, and 50 remain unchanged. - Rappler.com