PSEi jumps to a fresh high; nears 6,000 level
MANILA, Philippines - Shares rallied to another record high for a second consecutive day on Thursday, with the Philippine Stock Exchange index (PSEi) almost hitting the 6,000-mark during intraday trading.
The PSEi gained 1.25% or 73.06 points to finish at 5,934.05, while the broader all-shares index rose 0.97% or 36.09 points to 3,762.88.
The PSEi saw its peak reach 5,960.74 on Thursday, tracking markets in the region and in the US after the US averted falling off a "fiscal cliff" on Wednesday.
Both trading volume and value went up to 2.34 billion shares worth P7.53 billion changing hands, from the 2.24 billion shares worth P4.35 billion on Jan. 2.
All sub-indices were in the green, led by mining and oil companies which increased 1.66% or 325.09 points to 19,927.4, and property firms which gained 1.33% or 30.65 points to 2,338.09.
The industrial sector rose 1.13% or 101.54 points to 9,065.64, while holding firms added 1.12% or 58.65 points to finish at 5,278.09.
Services-oriented companies also grew by 1.11% or 19.31 points to 1,765.83, while financial firms went up 0.95% or 14.47 points to 1,543.91.
The most traded shares on Thursday belonged to telco giant Philippine Long Distance Telephone Co. (PLDT), whose shares closed 2.03% or P52 higher at P2,612 apiece.
Shares of Ayala Corp., meanwhile, were second most-active as it gained 1.52% or P8 to finish at P534 per share.
The top two gainers during the second trading of the year were "A" and "B" shares of Manchester International Holdings Unlimited Corp. (MIH), the firm recently acquired by casino giant Melco Crown Entertainment Ltd.
Shares of MIH (A) closed 22.46% or P2.78 higher at P15.16 apiece, while MIH (B) shares finished at P15 apiece, gaining 20% or P2.5.