Stocks set new record high

A+
A
A-

LOCAL stocks ended at another record high Friday, nearing 5,800 as risk appetite across regional markets was boosted by hopes of favorable US budget talks that will address Washington’s fiscal concerns.

The main-share Philippine Stock Exchange surged by another 30.56 points or 0.53 percent to close at 5,794.20, the 36th all-time high posted this year. A new intra-day peak was likewise touched at 5,797.93.

With record-low bond yields, investors were shrugging off valuation concerns in favor of growth prospects as the Philippines’ strong momentum is seen benefiting corporations in the coming year.

All counters were up. Value turnover amounted to P8.67 billion. But as the buying favored large caps, there were only 74 advancers as against 89 decliners while 47 stocks were unchanged.

The day’s most actively traded stocks were blue chips PLDT (+1.46 percent) and ALI (+1.03 percent).  Other stocks that powered the PSEi’s rise were RLC (+3.21 percent), SMIC (+2.42 percent), Philex (+2.31 percent), AC (+1.96 percent), MWC (+1.4 percent) and JFC (+1.39 percent).

On the other hand, there was profit-taking on SMPH (-1.75 percent), BPI (-0.26 percent), Megaworld (-0.71 percent), Aboitiz Power (-1.07 percent) and Globe Telecom (-1.04 percent).

Among non-index stocks, SPC Power (-3.2 percent) and Bloomberry (-2.17 percent) fell in heavy volume. Doris C. Dumlao

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • http://pulse.yahoo.com/_6KQ3DYZP5GWHYFQOAVUT4X6JCY Sal

    yahoo

  • regd

    Pasok na mga progress haters!

  • help_our_country

    i want PSEi to reach 6,000 at the start of 2013…go…go…go!

  • blainz

    All this record breaking news is starting to sound like a broken record, yet what sweet music it is!

    Go Philippines!!!

  • OFW28

    Heto na sila, madami dyan mga payat lang walang laman meron namang iba may mga laman

    Ito matataba, medyo magagaganda
    ALBERT EISNTEIN
    EdgarEdgar
    Fulpol – idagdag natin dito medyo may sense naman mga argumento nya eh!

    Ito mga payat, walang alam ang mga ito, nagbabasa lang ng info iibahin pa o ililigaw ang iba

    Baket?
    Francis81
    Malik62
    Agustin
    Mangyan007
    robrano
    Poltergeist_Fuhrer
    Pobre0000
    Kilabot
    CliffordM
    Your_King
    Buttones
    Mauli Champ
    Jr
    GaggerAlert
    AntonioLuna
    Jajabetran
    Bark_O
    Tabingbakud
    Andres_Bagumbayan
    angtangamo – ito ang pinaka sinungaling dito iibahin ang nabasa nya at ipo-post dito, 

    ito ang mga talangka, kalahi ni Tiglao at doronilla, 
    TIGLAOISM!!!

    • regd

      Absent si Fulpol?

  • ako_to

    ihanda na ang kawali, gatas ng niyog, luya, at iba pang rekados. padating na sila..

  • Diablo_III

    BAWAL ang  CRABS dito…

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

editors' picks

advertisement

popular

advertisement

videos