SHARE prices closed at another record high on Thursday with the main index closing at 8,400 points for the first time.
The benchmark Philippine Stock Exchange index (PSEi) gained 44.34 points to close at 8,402.81, a 0.53-percent hike from the previous close.
“Philippine markets resumed the upward trajectory as the minutes from the US Federal Reserve’s meeting confirmed what was on many analysts’ minds,” said Marita Limlingan, president of Regina Capital and Development Corp. “The minutes from the September FOMC [Federal Open Market Committee] meeting discussed near-term effects from Hurricanes Harvey, Irma and Maria but suggested broadly unchanged views on the underlying pace of growth and inflation.” Some 3-billion shares were traded during the day worth P8.2 billion.
Decliners, however, outpaced the number of gainers 122 to 82 and 48 shares were unchanged.
All other subindices ended mixed but most closed higher.
Most actively traded stock included Ayala Corp., which was up P25 to P1,077. Ayala Land Inc. rose P0.30 to P42.80, while SM Prime Holdings Inc. gained P1.05 to P35.95. SM Investments Corp. climbed P14 to P942 and Manila Electric Co. was up P6 to P292.