Financial markets roll into record territory
PhilstarPhilstar – Tue, Nov 27, 2012
MANILA, Philippines - Local financial markets rolled into record territory yesterday, as a generally upbeat investor sentiment pushed the peso and the stock index to new highs, and Treasury bill rates to historic lows.
Analysts attributed the strong performance to renewed confidence on developed nations solving their debt problems, as well as optimism in the strength of the local economy.
At the Philippine Stock Exchange, the benchmark PSEi closed 27.08 points or 0.5 percent higher yesterday at 5,579.42 – a new all-time high.
Considered an immediate gauge of investor confidence, the 30-company PSEi has hit record highs a total of 29 times so far this year.
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