PHStocks Week in Review: Steady, Consistent Growth

Manila—(PHStocks)—In just seven weeks, the Philippine capital market has grown from strength to strength. The Philippine Stock Exchange index (PSEi), in fact, has been achieving record upon record levels.

After reaching the 6,000 points last month, the blue-chip-stocks index went on to hit 6,500 this week, despite a series of profit taking, reflecting the continuing investor confidence in the macroeconomic fundamentals in the country.

The increase in infrastructure spending, the 6.8% GDP (gross domestic product) growth for the fourth quarter of 2012, the inflow of hot money, the growing remittances from overseas Filipino workers, and the steady, albeit slow, march to good governance are converging to paint a very strong economic outlook for the country.

This week, the PSEi reached 6,521.64, up by 0.97% from last week. On a four-week basis, the index was up by 6.23%. Meanwhile, the accident at Semirara Mining Corp.’s (PSE: SCC) coal site the previous day somehow pulled down the Mining and Oil sector’s index, which declined by 2.27% from last week. The Financials index, on the other hand, led the gainers by posting a 2.63% growth from last week. The All-Shares index likewise finished slightly up this week, gaining 0.91% from last week.

While unexpected challenges will continue to emerge, the resilience in Filipinos and the strong belief in a better economy will prevail, and the market, while at times may fluctuate as investors will definitely take advantage of stock prices’ growth, will definitely continue to make history.

Below are the top 30 gainers for the week:

Below are the top 30 decliners, on the other hand:

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