PSEi climbs to new record high-A A +A
Tuesday, February 19, 2013
MANILA -- The Philippine stock market posted a new record high on Tuesday due to positive developments that have been happening in the country.
The Philippine Stock Exchange index (PSEi) soared past the 6,600 level and finished at 6,620.72, up 55.49 points or 0.9 percent. The previous closing high was 6,565.23 on February 18, 2013. Intraday, the PSEi hit a new all-time high at 6,632.56 points surpassing the previous intraday high of 6,582.51 on February 18, 2013.
Year-to-date, the PSEi has registered 18 incidences of record closing highs.
"There are many things to be excited about the Philippines, so it's no surprise that the market has done very well over an extended period and has in fact, been one of the best performing in the global markets space. We remain optimistic that as improved earnings results trickle in and our listed companies continue to pursue further expansionary activities, the market's impressive rally can be sustained," said PSE President and Chief Executive Officer Hans Sicat. (SDR/Sunnex)