PSEi Breaks 6,000-Point Mark

The Philippine Stock Exchange index (PSEi) continued its bull run yesterday, reaching and breaking the  6,000-point mark for the first time in 86 years of stock trading. Investors locally and abroad were elevated by the  positive economic news.

The PSEi rallied by 1.23 percent, or 73.46 points, to post another record close at 6,044.91, which is also the new intraday high.

 “We are very proud to have reached and breached the 6,000 level, which affirms that market liquidity continues to be strong and investor sentiment remains positive over good news both locally and abroad,” said Hans B. Sicat, PSE president and CEO.“We also believe that corporate earnings will remain strong for the full year of 2012, which should support the market’s phenomenal performance,” he added.

“Indeed it is more fun at 6,000 and we look forward to setting new records this year.”

Traders flashed the “More Fun at 6,000″ and the number seven (7) signs on the trading floor yesterday (in the photo above) indicating the next crucial index ceiling.

This only means a stronger and more progressive economy for Asia’s Roaring Tiger for 2013.

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