MANILA, Philippines - The benchmark Philippine Stock Exchange index chalked up another record on Monday as it breached the 6,000 barrier on the back of positive investor sentiment on the global economic recovery.
The PSEi closed at 6,044.91, 73.46 points or 1.23 percent higher than its previous close. The local bourse said the index hit 6,000 at 9:40 a.m.
This is the fourth time the index set a new record for the year, after posting 38 record highs in 2012. The government's Official Gazette said this is the 65th record high since President Benigno Aquino III assumed office in 2010.
"We are very proud to have reached and breached the 6,000 level which affirm that market liquidity continues to be strong and investor sentiment remain positive over good news both locally and abroad. We also believe that corporate earnings will remain strong for the full year of 2012, which should support the market's phenomenal performance. Indeed it is more fun at 6,000 and we look forward to setting new records this year," PSE President and Chief Executive Officer Hans B. Sicat said.
There are 253 firms listed in the PSE with 133 active trading participants.