Philippine stocks breach 5,800, a historic high

A+
A
A-

PSE index as of 3:46 PM, December 11, 2012. Screengrab from http://pse.com.ph/

MANILA, Philippines—The  rally in the stock market resumed on Tuesday, allowing the index to breach 5,800 for the first time in history.

The main-share Philippine Stock Exchange index surged by 73.96 points, or 1.29 percent, to close at a new all-time high of 5,831.50, which was likewise the day’s peak. The index thus marked a record high for the 37th time this year as investors took advantage of the previous day’s dip to take position ahead of rosy prospects for 2013.

The counter that benefited most from the day’s upswing was the holding firm sub-index (+2.33 percent).  The mining/oil (+1.46 percent) and property (+1.93 percent) counters also fared well. Only the industrial counter ended a tad lower.

Value turnover amounted to P7.08 billion. There were 87 advancers versus 83 decliners while 47 stocks were unchanged.

Investors snapped up shares of BDO, ALI, PLDT, Metrobank, AC, EDC, RLC, SMIC, Megaworld, SM Prime, AGI, Meralco, BPI and MPI.

The biggest gainers among index stocks were Philex (+4.59 percent), SMIC (+4.29 percent), ALI (+3.84 percent), Globe (+2.58 percent) and Megaworld (+2.21 percent).

Among non-PSEi stocks, an outperformer was Puregold (+4.62 percent), which was seen as a key domestic consumer play.

Across the region, stock markets traded mostly higher in line with the seasonal yearend rally. Investors are focusing on China’s prospective stimulus in the coming year.

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.

  • andresa igbac

    yes! mabuhay ang pilipinas! mabuhay ang pilipino!

  • Diablo_III

    Bawal ang CRABS dito…

  • dprotector

    Investors are focusing on China’s stimulus. Still dependent on communist China?

  • http://pulse.yahoo.com/_W4PHR2UMQFNROXW36EAKMWKVN4 -o0Mr_Aries0o-

    tsk! tsk! tsk! this is a very bad news for the anti-pnoy camp

  • NoWorryBHappy

    OMG ! OMG!! OMG!!!
    Sinasabi kon na nga ba, eh.
    Kung 5,800 by the end of 2012 ay
    14,000 by the end of President Noynoy’s term.
    We’ll be a bigger and better Singapore. Let’s just keep focus and
    get all Filipinos share on the work and profits of economic development.

    • im_earth

       paano na compute ang 14,000? pa share naman

  • http://pulse.yahoo.com/_BL2GYU35SO6HTJUEAUTXS3QFYM George Lapulapu

    looking good.

  • http://www.facebook.com/people/Abdul-Rashid/100004367910013 Abdul Rashid

    While stocks continue in its height we should be warned of a sudden crash anytime soon. 

    • http://twitter.com/erncastillo ern

      what crash are you talking about? Your mental crash maybe

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
advertisement