By Joann Santiago
The local bourse posted another record-high Tuesday at 5,365.70 points and the peso further gained ground amid the negative manufacturing and jobs data overseas.
The Philippine Stock Exchange index (PSE) rose by 65.46 points or 1.23 percent from the previous day’s 5,300.24 points and ahead of the 3,500 points critical level. It surpassed the previous record of 5,300.41 on May 3, 2012.
The composite index’ intraday high of 5,374.35 points also outdid the 5,329.76 points on May 4, 2012.
Philippine Stock Exchange (PSE) president and chief executive Hans B. Sicat, in a statement, attributed Tuesday’s performance of the local bourse to “expectations that US and European central banks will move to stimulate their economies bode well for global markets going forward.”
“We continue to be optimistic that similar developments in the future should help sustain our momentum as we start the second half of 2012 on a high note with the latest PSEi record,” he said.
Similarly, the broader all shares index rose by 30.81 points or 0.89 percent to 3,506.34 points from day-ago’s 3,475.53 points.
All sectoral indices also registered gains, led by the property index at 1.85 percent after turning in additional 35.91 points to 1,982.35 points from day-ago’s 1,946.44 points.
Value turnover reached P7.09 billion after 1.75 billion shares changed hands.
Gainers overturned losers at 122 to 52 while 33 stocks were unchanged.
Relatively, the local currency gained 30 centavos against the dollar after closing at 41.72 from the previous day’s 42.02 finish.
It opened at 41.93 and traded between 41.94 and 41.71 resulting an average of 41.78 for the unit.