PSEi rallies to new record high

The Philippine Stock Exchange index (PSEi) rallied to a new all-time high.

The PSEi finished at 7,548.93, up by 132.62 points or 1.8 percent, eclipsing the January 14, 2015 record close at 7,490.88. Today’s closing number is also the new all-time intraday high of the PSEi.

“With the moderate slowdown in China’s economy, coupled with Japan’s economic recession and Europe’s debt crisis, and notwithstanding the US economic resurgence, emerging markets such as the Philippines will stand out due to its strong macro-economic fundamentals and sustainable growth story. The positive sentiments by the market as regards the European Central Bank quantitative easing program further propelled our market to an all-time high,” said PSE COO Roel A. Refran.

“I believe that our stock market will remain resilient amidst the global realities buoyed by investors’ continued confidence in our economy,” Refran added.

Year-to-date, the PSEi is already up by 4.4 percent.