MANILA, Philippines – The Philippine Stock Exchange index broke past the 6,200 level on Tuesday, setting its 11th record for the year.
The bellwether PSEi closed at 6,234.73, gaining 42.31 points or 0.68
percent. This went past the previous high of 6,192.42 posted last Jan. 28.
“The volumes we’ve seen in the past few days show that there is increased liquidity in the system that is finding its way into the stock market. This is supported further by expectations of benign inflation and low interest rates. Sentiment continues to be upbeat on the growth performance of the Philippine economy for the year which should support the index’s journey to new territories,” PSE President and Chief Executive Officer Hans B. Sicat said.
The Aquino administration said the local index has made 72 all time records since it took office in 2010.