PSE Index rallies to another record high

THE Philippine Stock Exchange index (PSEi) rallied to a new all-time high on Tuesday after US indices closed at record levels and on expectations that China’s third quarter GDP will be within target.

The PSEi finished at 8,497.74, up by 49.80 points or 0.6 percent, surpassing the Oct. 13 record close of 8,447.94.

Intraday, the main index breached the 8,500 mark and climbed to a new all-time intraday high of 8,586.73.

Year-to-date, the PSEi has already registered new record highs for a total of 10 times.

“The record highs reached in yesterday’s US markets coupled with the liquidity generated from a recent tender offer and hopeful optimism on third quarter corporate earnings continue to generate upbeat sentiment among investors,” said PSE President and CEO Ramon S. Monzon.

Since the start of the year, the PSEi has risen 24.2 percent. (PR)
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