PSEi breaks 8,000 mark

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Monday, March 30, 2015

PHILIPPINE shares breached the key 8,000 level as it climbed to a new all-time intraday high of 8,007.98 on Monday, surging by as much as 130.02 points or 1.7 percent.

The previous intraday record was 7,889.25 on March 27.

While the Philippine Stock Exchange index (PSEi) failed to close above the 8,000 mark, it still ended at an all-time record of 7,899.41, up by 21.45 points or 0.3 percent. This level eclipsed the record finish posted on March 27 of 7,877.96.

"Despite the pullback at the end of the session, breaking the 8,000 mark is an indication of the confidence level that investors have on the market," said PSE president and CEO Hans Sicat.

"This conviction is supported by the prevailing positive sentiment in local developments as well as in the region as seen by gains in most Asian bourses," he added.

The PSEi has broken through new record highs 22 times since the start of the year while its year-to-date gain now stands at 9.3 percent. (SDR/Sunnex)

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