PSEi breaches 6,800 level-A A +A
Wednesday, March 6, 2013
MANILA -- Philippine shares surged to a new all-time high on Wednesday in tandem with global market gains.
The Philippine Stock Exchange index (PSEi) closed at 6,835.21 points, up 123.49 points or 1.84 percent. This breaches the previous all-time high at 6,721.45 points set on February 28. Intraday, the PSEi also hit a new high at 6,842.97 points surpassing the previous record intra-day level of 6,725.36 points posted on March 1.
"Global markets are rallying on positive economic indicators, while locally, initial earnings reports of our listed companies have been generally better than expected," said PSE Chief Operating Officer Roel A. Refran said.
"Given these promising developments, the sustained growth of the market finds more support that will hopefully lead us to reach new milestones," he said. (SDR/Sunnex)