PSEi & Philippine Peso Starts 2018 With a Bang Due to Investors Confidence in the Economy

The Philippine Stock Exchange index (PSEi) finished the first trading day of 2018 with a record-breaking 8,724.13 points, up 1.94 percent or 165.71 points on Wednesday, the highest so far in the history of the Philippine Stock Market.


Aside from the huge improvement in PSE Index, the Philippine peso also starts the year 2018 with a bang at P49.81 compared to a US dollar, way better than its P49.93 close on December 29, 2017, the last trading day of 2017.

According to some experts, foreign funds continue to pour into the Philippines' equities market, boosting not only the main index of PSEi but also the Philippine Peso.

One the veteran trader in the Philippine Stock Market pointed the increase to investors' sentiment on the domestic economy due in part to the implementation of the first part of tax reform program's Package 1 starting this month of January.



The trader said investors expressed hopes that the tax reform program would further improve the government's capacity to fund its infrastructure program, among others, and further improve its growth prospects.

Based upon the results of the first day day of trading, volume for the day reached 712.83 million shares amounting to PHP7.29 bill. Gainers led losers at 118 to 102 while 38 shares remained unchanged.

Meanwhile, the Philippine Peso ended the trading at 49.81, way better than its 49.93 close on December 29, 2017. Its latest close was the local unit's strongest after its 49.63 finish on June 15, 2017.

Source: PNA

PSEi & Philippine Peso Starts 2018 With a Bang Due to Investors Confidence in the Economy PSEi & Philippine Peso Starts 2018 With a Bang Due to Investors Confidence in the Economy Reviewed by Phil Newsome on January 03, 2018 Rating: 5
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