The Philippine
Stock Market
today soared to a new all-time high on slew of positive news-- higher
corporate earnings, banking merger talks, rosy outlook on the
Philippine economy, and stronger peso. The
Philippine Stock Exchange index (
PSEi) closed to a record high of 5,579.42 and also hit a new record
intraday high of 5,585.09. The rally was led by banking stocks that inched up the financial index by 1.62%.
Energy
Development Corp. (EDC) also posted its highest closing price at 7.08
and intraday high at 7.12. The stock was up by 2.31% from previous
close.
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