Stocks continue to soar Friday-A A +A
Friday, January 4, 2013
THE Philippine Stock Exchange (PSE) index extended its rally for the third day and closed at a new all-time high due to positive developments in the country, an official said.
The PSEi closed at 5,971.45 on Friday, gaining 37.40 points or 0.6 percent. This level surpassed the last record close on January 3 at 5,934.05.
"The PSEi managed to avoid the general downtrend in Asia today (Friday), an encouraging sign for the sustainability of last year's impressive performance," said PSE president and chief executive officer Hans Sicat.
"These positive developments, including favourable inflation data, help support our good start to the year," he added.
The country's inflation rate averaged at 3.2 percent in 2012, well within the full year 3-5 percent target. (SDR/Sunnex)