PSEi breaches 6,400 level-A A +A
Monday, February 4, 2013
MANILA -- Philippine shares closed above the 6,400 level on Monday to post a new all-time high as global markets posted gains.
The Philippine Stock Exchange index PSEi closed at 6,435.98, surpassing last Friday's finish of 6,318.61. Intraday, the PSEi reached another record level at 6,449.44, beating the 6,342.72 level on February 1.
Year-to-date, the PSEi has grown by 10.7 percent or 623.25 points. The main index has also recorded new closing highs by a total of 14 times since the start of the year.
"While developments abroad continue to be a significant factor in dictating market movements, investor confidence in our local market remains strongly supported by the Philippines' continued growth story," PSE President and Chief Executive Officer Hans Sicat said. (SDR/Sunnex)