PSEi hits new record high above 6,700
MANILA, Philippines (2nd UPDATE) – Stocks climbed to a new all-time high past the 6,700 level on Monday, February 25.
The Philippine Stock Exchange index rose 56.27 points or 0.84% to 6,721.33 from Friday’s close of 6,665.06. It exceeded the previous all-time high of 6,667.41 set on February 21.
The wider all-share index climbed 33.60 points or 0.81% to 4,176.94.
All counters advanced, led by the industrial sector, which gained 1.68%.
The market rose on strong corporate earnings reports, and the usual month-end window dressing. Fund managers window dress by selling stocks with large losses and purchasing others that have performed well to make their portfolios attractive to clients.
SM Investments Corp., the most actively traded stock, went up P7 or 0.69% to P1,024 per share on Monday.
Second most active Ayala Corp. jumped P19 or 3.33% to P590. – Rappler.com