THE benchmark Philippine Stock Exchange index (PSEi) closed at its highest on Thursday on continued buying of investors ahead of the third-quarter reporting season.
The PSEi closed at 8,144.91, up by 91.03 points, or 1.13 percent, from Wednesday’s close. The closing level is the highest for the main index since April 10, 2015, when the PSEi closed at 8,127.48.
Intraday, the PSEi also hit a fresh all-time intraday high of 8,169.64, surpassing the previous intraday record of 8,136.97 posted on April 7, 2015.
“The stock market’s surge to a record high underpins investor confidence in the local economy and in the Philippine capital markets. The Philippines remains a favorite among emerging markets as it continues to provide attractive returns,” PSE President and CEO Ramon S. Monzon said.
Year to date, the PSEi has gained 19.1 percent, but for most part of the year it has been struggling to get past the 7,000-point level.