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PSEi hits new record as it tracks Wall Street

Posted on February 23, 2015

By Leslie D. Venzon

MANILA, Feb. 23 (PNA) — The local stock market carved its 15th record high this year with a slight rise on Monday, its fifth day in a row, tracking Wall Street’s overnight rally.

The benchmark Philippine Stock Exchange index (PSEi) advanced 0.68 points to 7,826.07 from Friday’s close of 7,825.39.

Online brokerage firm 2TradeAsia.com said investors cheered the grant of four-month extension on Greece, especially given the positive climb of the United States stocks.

The Dow Jones industrial average rose 154 points and the Nasdaq Composite added 31 points.

Counters were mixed, with the financials, mining and oil and property in positive territory.

The sub-indices of other sectors declined slightly.

A total of 1.63 billion shares changed hands with turnover of Php5.45 billion.

Market breadth was negative with decliners dominating advancers, 105 to 81, while 38 issues unchanged.

The day’s most active stocks were led by Ayala Land Inc., Universal Robina Corp., SM Investment Corp., Philippine Long Distance Telephone Company and Energy Development Corp. (PNA)

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