PH Stocks Climb Higher, Set New Record

PSE-21FebManila—(PHStocks)—The continuing strong macroeconomic fundamentals have boosted Philippine stocks’ resilience against profit-taking throughout the day. Despite opening the session at 6,637.83, 0.16% down from yesterday, and pausing at 6,629.48, down 0.29%, during market recess, the mainboard Philippine Stock Exchange index (PSEi) managed to reverse the trend and pull in a moderate 0.28% growth to close the day at 6,667.41 – another record high. The wider All-Shares index likewise was able to record a marginal growth of 0.03% as companies continue to report positive full-year 2012 results.

On a sectoral basis, the Property segment led the indices with a 0.64% growth, while the Industrials came in with a 0.37% increase. The Mining and Oil segment, on the other hand, continued its bleeding, shedding 1.03%. In particular, Semirara Mining Corp. (PSE: SCC), which had to deal with an accident at one of its coal sites last week, extended its decline today, losing 0.86%.

Overall, trading remained heavy. Value turnover reached about PhP10.808 billion on 2.635 billion shares traded. There were 59 gainers against 117 decliners, while 38 stocks remained flat.

Below are the biggest gainers for the day:

Below are the days biggest decliners:

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