PSEi hits new closing record

Posted at 04/17/12 6:24 PM

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) closed at a new all-time high on Tuesday.

On Tuesday, the PSEi closed at 5,157.28, up 39.82 points or 0.80 percent. The previous closing record high was 5,145.89, which was set last March 16.

The PSEi also reached a fresh intraday high at 5,186.52, beating the previous record intraday level at 5,146.17 last March 19.

"While developments abroad continue to be a significant factor in dictating market movements, investor confidence in our local market remains strong which has enabled it to buck the downward trend in the region these past few days.  This four-day rally shows that the market continues to withstand external shocks as it is supported by the Philippines' growth story," PSE president and CEO Hans B. Sicat said, in a statement.

As of April 17, the PSEi has grown by 18% or 785.32 points, year-to-date.