For the first time, the Philippine Stock Exchange Index (PSEi) closes an all-time high at 7940 closer to 8000 level it hits last Monday morning. Will it continue to rally next week? Most economist believes it will!
“The PSEi managed to extend its gains for a fifth straight day on positive news coming out of US, Europe, and China. We are optimistic that the continuous flow of good news locally and from overseas will provide basis for the sustained growth of not only the index but overall market activity,” PSE President and CEO Hans B. Sicat said.
According to abs-cbnnews.com:
Big gainers were led by Ayala Land and Jollibee Foods Corp., which both rose more than 2 percent.
SM Prime Holdings Inc. and Aboitiz Power Corp. also surged.
Overall, the main index closed at 7,940.49, up 0.52 percent. This was the first time the PSEi closed above the 7,900 level, and also surpassed Monday’s record close of 7,899.41.
Long term investors, like us (Truly Rich Club Members), are very happy because of this development. That means our money will grow more with the help of Bo Sanchez club guidance and COL Financial.