PSE Index ends at record for second straight day despite lower growth

January 23, 2018

Last-minute buying pushed the Philippine Stock Exchange Index to a record close for the second straight day on Tuesday. Despite slower growth reported for 2017 by the Philippine Statistics Authority, the index ended one point short of 9,000 points. The index closed at 8999.02, up 48.40 points. In the broader market, there were 125 gainers, 84 decliners and 47 shares unchanged. Volume reached 1.16 billion shares worth P8.543 billion from Monday's 879.3 million shares valued at P8.027 billion. Foreigners were net buyers, with P4.92 billion purchased and P4.65 billion bought. Most active shares were led by Ayala Land Inc., up 0.88 percent to P45.60; BDO Unibank, up 0.31 percent to P159.30, SM Investment Corp., up 2.34 percent to P1,095 and San Miguel Corp., up 3 percent to P140.90. The peso weakened to P51.008 against the US dollar from P50.835 on Monday. Volume at the Philippine Dealing System reached $878.50 million from $868.50 million.  DMS