Philippine Stock Index Tops 9,000 For the First Time in History Under Pres. Duterte

The Duterte administration proved once and for all that under his leadership, the Philippine government is on the right track after the Philippine Stock Index tops 9,000 for the first time in history of the PSE.


The Philippine Stock Exchange index (PSEi) finished at 9,041.20, inching up by 42.03 points, or 0.47 percent, the first time it closed the 9,000-mark. The achievement of the Duterte admin was reportedly reached on Friday, January 26, 2017.

According to Marita Limlingan, president of Regina Capital Development Corp., "In a see-saw trading session, the Philippine market ended yesterday’s session in the green ahead of window dressing next week. Sentiment was carried over from last night’s regional performances as well,” Marita Limlingan said.

She specified that Dow Jones Industrial Average managed to hold in positive territory albeit the broader market relinquished gains Thursday afternoon in volatile trade, following President Donald Trump’s dollar-supportive comments. US markets also had to digest the latest statement from the European Central Bank as well.

Based upon the results of the PSEi, majority of the sectors were up, led by holding firms, which rose by 94.69 points, or 1.02 percent to 9,352.46, followed by property, which went up by 30.62 points, or 0.75 percent to 4,122.44.

Next to them were industrial, which added 16.73 points, or 0.14 percent to close at 12,067.48, and services, which slightly improved by 0.47 points, or 0.03 percent to 1,696.81.

According to PSEi, some of the most actively traded stocks were BDO Unibank, Inc.; Ayala Land, Inc.; SM Prime Holdings, Inc.; and SM Investments Corp.

Source: PSEi / PNA

Philippine Stock Index Tops 9,000 For the First Time in History Under Pres. Duterte Philippine Stock Index Tops 9,000 For the First Time in History Under Pres. Duterte Reviewed by Phil Newsome on January 27, 2018 Rating: 5
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