English: Phillippine stock market board (Photo credit: Wikipedia)Financial IQ Philippines Quick Hit(s):
Philippine share prices have been going up this year.
Just remember to always exercise due diligence and avoid following the "pack". For buyers who cost-average, just keep on buying shares of stocks/funds at the regular interval you have been doing.
Philippine share prices climbed yesterday, buoyed largely by US Federal Reserve’s announcement last week of new measures to energize the US economy.
At the Philippine Stock Exchange (PSE), the main composite index climbed 28.43 points to close at 5,350.90, near its all-time high of 5,369.98 last seen in July 5, 2012.
All sectoral indices reflected gains and closed in positive territory, led by property that climbed 24.23 points to 2,055.72. The industrial sector rose 27.75 points to 8,051.08, while services climbed 5.93 points to 1,832.32.
Mining and oil advanced by 53.68 points to 21,476.58, while financials went up by 2.88 points to 1,350.56. Holding firms edged up 5.30 points to 4,493.90.
Market breadth was positive with advancers outnumbering decliners 85 to 65, while 56 stocks were unchanged.
Among actively-traded stocks, Ayala Land, Inc. soared by 60 centavos to P23.90, while First Gen Corp. surged 40 centavos to P19.02. Metro Pacific Investments Corp. rose eight centavos to P4.29.
Across Asia, Hong Kong’s Hang Seng was flat at 20,658.11 and South Korea’s Kospi slipped 0.4 percent to 2,000.03. Australia’s S&P/ASX 200 edged 0.2 percent higher to 4,399.00. Mainland China’s Shanghai Composite Index fell 1.3 percent to 2,095.70.
Benchmarks in Singapore, Taiwan, New Zealand, Thailand, and Indonesia rose. Markets in Japan were closed for a holiday.
Global stock markets rallied late last week after the Fed announced it planned to buy $40 billion of mortgage bonds a month for as long as necessary as part of a strategy known as quantitative easing aimed at encouraging people to borrow money and spend it. The Fed also extended its pledge to keep short-term interest rates low until 2015, a year longer than its previous target.
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