Stocks open year with new record-A A +A
Wednesday, January 2, 2013
THE Philippine Stock Exchange (PSE) welcomed 2013 with a bang after the benchmark stock market index recorded a new all-time high.
The PSE index edged closer to the 5,900 level yesterday, finishing at 5,860.99 or up by 48.26 points or 0.8 percent. This index record surpassed the Dec. 26, 2012 record close at 5,832.83.
The PSEi set 38 new records in 2012.
“World markets have cheered the photo finish resolution of the fiscal cliff in the US. We’re off to a good start in 2013,” said PSE president and chief executive officer Hans Sicat.
On Friday, Dec.28 which was the last trading day for 2012, the PSEi finished at 5,812.73, 33 percent higher than last year’s close.
“In 2013, we will once again be challenged to become better and to push the market to even greater heights. Our plans for the Exchange and stock market have been laid out and I assure you that there is great reason to be excited again this year,” said Sicat. (PR)
Published in the Sun.Star Cebu newspaper on January 03, 2013.