PSE index pierces 8,000 level

The Philippine Stock Exchange index (PSEi) pierced the key 8,000 level as it climbed to a new all-time intraday high of 8,007.98 on Monday, surging by as much as 130.02 points or 1.7 percent. The previous intraday record was 7,889.25 on March 27, 2015.

While the PSEi failed to close above the 8,000 mark, it still ended at an all-time record of 7,899.41, up by 21.45 points or 0.3 percent. This level eclipsed the record finish posted on March 27, 2015 of 7,877.96.

“Despite the pullback at the end of the session, breaking the 8,000 mark is an indication of the confidence level that investors have on the market. This conviction is supported by the prevailing positive sentiment in local developments as well as in the region as seen by gains in most Asian bourses,” said PSE President and CEO Hans B. Sicat.

The PSEi has broken through new record highs 22 times since the start of the year while its year-to-date gain now stands at 9.3 percent.