PSEi breaches 7,000 mark

The main barometer of the Philippine stock market, the PSEi, rose for a fourth straight session and breached the 7,000 level on Monday trading. The main index hit a 13-month high and traded at an intra-day high of 7,016.71. The PSEi settled at 6,999.10 up 36.82 points or 0.53 percent at the end of trading.  These were the highest levels since May 31, 2013 when the PSEi registered intra-day and closing levels of 7,028.50 and 7,021.95 points, respectively.

“The market’s rise to the 7,000 is a validation of the solid macro-economic fundamentals of the country and the confidence of investors in the Philippine economy. We are hopeful that this momentum will carry on until the end of the year,” said PSE President and CEO Hans B. Sicat.

The PSEi has advanced 2.5 percent since Wednesday and is up 18.83 percent year-to-date.