Philippine bourse breaks record mark

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PSEThe Philippine Stock Exchange (PSE) index pierced the 7,000-mark on April 22 for first time, a surge built on optimism that lower bank deposit rates are stoking equities, as well as higher first quarter corporate earnings.

The PSE’s main index hit an all-time high of 7,120.48, up 163.38 points or 2.35 per cent, the 27th time the index has broke record levels, besting bearish predictions.

The bourse opened slightly below 7,000 on April 23, but stock analysts and brokers predict that the anticipation of a second investment credit rating by S&P and Moody’s will keep the market bullish.

Ayala stocks are seen has the index’s best overall investment in the Philippines, Nisha Alicer, a senior analyst at the PSE, told Inside Investor.

“Ayala is a good short-, medium- and long-term investment because of high investor sentiment,” she said.

Indeed, Ayala Corp and Ayala Land have both seen robust rises, along with sturdy banking institutions, such as Bank of the Philippine Islands and Banco de Oro.

The PSE expects 7 to 10 initial public offerings in 2013, its president Hans Sicat  said in March.

Philippine Business Bank, Asia United Bank, investment holding LT Group, the local producer of American soft drink RC Cola, as well as several companies engaged in mining, real estate and retail are expected to make listings on the vibrant bourse.

 

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Reading Time: 1 minute

The Philippine Stock Exchange (PSE) index pierced the 7,000-mark on April 22 for first time, a surge built on optimism that lower bank deposit rates are stoking equities, as well as higher first quarter corporate earnings.

Reading Time: 1 minute

PSEThe Philippine Stock Exchange (PSE) index pierced the 7,000-mark on April 22 for first time, a surge built on optimism that lower bank deposit rates are stoking equities, as well as higher first quarter corporate earnings.

The PSE’s main index hit an all-time high of 7,120.48, up 163.38 points or 2.35 per cent, the 27th time the index has broke record levels, besting bearish predictions.

The bourse opened slightly below 7,000 on April 23, but stock analysts and brokers predict that the anticipation of a second investment credit rating by S&P and Moody’s will keep the market bullish.

Ayala stocks are seen has the index’s best overall investment in the Philippines, Nisha Alicer, a senior analyst at the PSE, told Inside Investor.

“Ayala is a good short-, medium- and long-term investment because of high investor sentiment,” she said.

Indeed, Ayala Corp and Ayala Land have both seen robust rises, along with sturdy banking institutions, such as Bank of the Philippine Islands and Banco de Oro.

The PSE expects 7 to 10 initial public offerings in 2013, its president Hans Sicat  said in March.

Philippine Business Bank, Asia United Bank, investment holding LT Group, the local producer of American soft drink RC Cola, as well as several companies engaged in mining, real estate and retail are expected to make listings on the vibrant bourse.

 

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