The Philippine Stock Exchange main index or the PSEi surged to a new all-time high on Wednesday in tandem with global market gains.
The PSEi closed at 6,835.21 points, up 123.49 points or 1.84 percent. This breaches the previous all-time high at 6,721.45 points set on 28-Feb-13. Intraday, the PSEi also hit a new high at 6,842.97 points surpassing the previous record intra-day level of 6,725.36 points posted on March 1.
“Global markets are rallying on positive economic indicators, while locally, initial earnings reports of our listed companies have been generally better than expected. Given these promising developments, the sustained growth of the market finds more support that will hopefully lead us to reach new milestones,” PSE Chief Operating Officer Roel A. Refran said.