PHStocks Week in Review: Strong 2013 Opener

Manila—(PHStocks)—The Philippine stock market has been nothing but phenomenal this week. The strong year-end trading on December 28 was followed by record high upon record highs during the first three trading days of 2013, finally capping the week at 5,971.45 points, up by 0.63% from 5,934.05 points last Thursday, January 3, and up by 2.73% from last week (which is, last year).

When the stock market started the first trading day of the year, shares were further boosted with the signing of the deal to prevent the fiscal cliff in the United States. Worldwide, stock markets responded on a strong note. The Philippine Stock Exchange index (PSEi) opened the year with the first record high of the year at 5,860.99 points.

While the following day achieved the new record 5,934.05 points, Friday trading bested this by 0.63% to cap the week at 5,971.45 points.

For the week, all counters are up from last week, led by both the Holding Firms index and Mining and Oil sector, which registered a 3.24% growth apiece. The Services sector was up by 3.19%, while the Industrials pulled in a 2.03% growth. Meanwhile, the wider all-shares index grew by 2.15% to 3,778.43 points.

Barring any unforeseen major geopolitical disaster in the country, this strong opener is a sign of good times ahead for the economy, and the country.

Below are the top 30 gainers for the week ended January 3, 2013:

Below, meanwhile, is the list of this week’s biggest losers:

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