PSE lauds Aquino gov’t
MANILA – The Philippine Stock Exchange (PSE) has lauded the administration of President Benigno Simeon Aquino III for keeping interest levels benign and thus stimulating economic growth.
“We have to credit our government’s economic managers for keeping interest rates at benign levels and the foreign exchange rate strong and stable. They have created an environment conducive for a stronger equity market,” PSE president and chief executive Officer Val Antonio B. Suarez said.
He made this statement as the Philippine Stock Exchange index (PSEi) rocketed to a new historic high on Thursday, ending the trading day at 4,245.05 points.
The PSEi zoomed by 48.32 points or 1.15 percent on Oct. 7.
Total volume turnover Thursday stood at 1.26 billion shares while market turnover amounted to P5.01 billion. Executed trades stood at 16,226.
The PSEi has also consistently ranked among the top performing indices in Asia.
Year-to-date, the PSEi has gained a total of 1,192.37 points or 39.06 percent with market capitalization reaching P7.63 trillion.
Total foreign buying year-to-date has reached P312.73 billion compared with P263.06 billion in the same period last year, stripping out special block sales.
The PSE is the country’s only stock exchange with 250 listed firms and 132 active trading participants.
PSE shares are also listed on the stock exchange.*PNA
