PSEi hits new record high for 23 times

MANILA -- The Philippine Stock Exchange index (PSEi) broke past the 5,400 level on Thursday to close at a new all-time high due to better-than-expected US jobs and service industries data that reflected a more upbeat outlook on the global economy, official said.

The local bourse finished at 5,443.74, up 68.22 points or 1.3 percent, surpassing the October 3 record close at 5,375.52.

Intraday, the PSEi reached another record level at 5,451.96, beating the previous level at 5,403.16 last July 4. Year-to-date, the PSEi broke through new record highs for a total of 23 times.

"The favorable developments abroad have helped push the momentum of the market further to new highs," PSE President and Chief Executive Officer Hans Sicat said. (SDR/Sunnex)