PSEi sets new record, finally cracks 9,000 ceiling

MANILA, Philippines — The stock barometer on Friday made another last-minute dash to close at a new all-time high, breaching the 9,000 level for the first time ahead of window dressing next week.

The bellwether Philippine Stock Exchange index rallied 0.47 percent or 42.03 points to 9,041.20 — beating Thursday's record of 8,999.17 and marking its eighth record finish this year.

“Sentiment was carried over from last night's regional performances,” Luis Limlingan of Regina Capital Development Corp. said in a market commentary.

“The Dow Jones Industrial Average managed to hold in positive territory but the broader market relinquished gains Thursday afternoon in volatile trade as stocks mirrored the buck's rebound following President Donald Trump's dollar-supportive comments,” he added.

Mining/oil and financials counters ended in red, down 93.42 points and 10.02 points, respectively.

Holding firms closed above one percent, followed by property which surged 0.75 percent, industrial which gained 0.14 percent and services which climbed 0.03 percent.

Advancers trumped decliners at 110 to 97, while 52 issues closed flat. Value turnover stood at P7.83 billion.

The PSEi was led higher by Megawide Construction Corp., which rose 4.85 percent, and SM Investments Corp., which went up 3.64 percent.

Notable decliners were East West Banking Corp., which gave up 4.12 percent, and Metro Bank & Trust Company, which dropped 2.31 percent.