PSE index treks to new intraday and closing record levels
The Philippine Stock Exchange index (PSEi) recorded new all-time highs on Monday on buying in select index issues.
The PSEi closed at a fresh all-time high at 7,782.57, up 54.39 points or 0.70 percent. The previous closing record high was at 7,728.18 set last February 6. Intraday, the PSEi hit a fresh record high at 7,786.78, beating the previous record intraday level at 7,738.12 last February 4.
Year-to-date, the PSEi has expanded by 7.6 percent or 552 points.
“Investor confidence in our local market remains strong as shown by the continuous market rally despite the downward trend in the region. Expectations of positive listed company annual income results and untouched key policy rates in coming days fuel the upbeat market performance. Given this favorable backdrop, we hope that the new levels reached would become the springboard for a more resilient market even as global uncertainties persist,” PSE President and CEO Hans B. Sicat said.
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