| Aquino hails performance of local bourse (philstar.com) March 03, 2012 |
MANILA, Philippines (Xinhua) - President Benigno Aquino III hailed yesterday the performance of the country's stock market, which hit an all-time intraday high on Thursday, saying it was an indication of the business confidence in the country.
Aquino said the Philippine Stock Exchange index (PSEi) has continued to climb since 2010.
"I don't play in the stock market but the stock market is the clearest indicator, and the fastest reacting indicator that will show you business confidence," he told reporters in Oriental Mindoro province in western Philippines.
Since last year, analysts have been expecting the PSEi to hit the 5,000 level. But political strife in the Middle East and the economic woes in the eurozone prevented the 5,000 index from being materialized, he said.
"But we're happy now that (the PSEi) started breaking (that level)," he said.
The bellwether Philippine Stock Exchange index touched an all- time high of 5,011.09 points on Thursday, before it closed at 4, 938.61, 40.96 points higher from Wednesday's close. It kept the rising momentum of Friday, with the index climbing to 5016.3, up 1. 57 percent over the figure of the previous day.
Aquino said the Philippine Stock Exchange index (PSEi) has continued to climb since 2010.
"I don't play in the stock market but the stock market is the clearest indicator, and the fastest reacting indicator that will show you business confidence," he told reporters in Oriental Mindoro province in western Philippines.
Since last year, analysts have been expecting the PSEi to hit the 5,000 level. But political strife in the Middle East and the economic woes in the eurozone prevented the 5,000 index from being materialized, he said.
"But we're happy now that (the PSEi) started breaking (that level)," he said.
The bellwether Philippine Stock Exchange index touched an all- time high of 5,011.09 points on Thursday, before it closed at 4, 938.61, 40.96 points higher from Wednesday's close. It kept the rising momentum of Friday, with the index climbing to 5016.3, up 1. 57 percent over the figure of the previous day.
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