Stock market closed for the holidays

The Philippine stock market will be closed for the holidays for most of the week. It will resume trading on Thursday (Jan. 2).

Monday, Dec. 30, is a non-working holiday as the nation observes Rizal Day. The country will also celebrate the New Year on Tuesday and Wednesday.

Based on the last day of trading of 2013, the main-share Philippine Stock Exchange index rose by a modest 1.3 percent for the full year.

Daily average value turnover for the whole of 2013 rose by 44.9 percent to P10.52 billion from P7.26 billion while total market capitalization rose by 9.2 percent to P11.93 trillion, based on data from the PSE.

Last Friday, the Ayala trading floor of the PSE marked its tenth year as a publicly listed company.

This year, the PSEi posted a record high of 7,403.65. Despite falling to its lowest level of 5,562.13 in August, the main index managed to end the year with a gain of 1.3 percent to close at 5,889.83 on Friday. Doris C. Dumlao