MANILA, Philippines – The Philippine Stock Exchange benchmark index (PSEi) ended at another record high on Tuesday, May 14, following the closing of mid-term election polls in the Philippines.
Based on unofficial and partial poll results, the Aquino administration bets dominate the races for seats in Senate, House of Representatives, and some local posts, ensuring continuity of policies in the last 3 years of Aquino government until 2016.
On the first trading after the polls, PSEi breached the 7,300 level closing at 7,313.49, up 0.7% or 50.84 points with an intraday peak at 7,349.95.
This marks the 30th record high for the index this 2013.
Last Friday, the PSEi hit its 29th record close for the year.
The index pierced the 7,200 level 6 days ago when the country received its second investment grade rating from Standard & Poor’s.
The PSEi posted 36 all-time highs in 2012. – Rappler.com