PSEi hits new all-time high anew


Posted at Nov 06 2012 06:18 PM | Updated as of Nov 07 2012 07:00 AM

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) on Tuesday closed at another new all-time high.

The PSEi ended the session at 5,473.61, up 0.29%, beating the previous record close of 5,457.82 on Monday.

The PSEi has set new record highs 25 times year-to-date.

Among today's gainers are Megaworld Corp., which rose 2.4% and Metrobank, which climbed 1.3%. PLDT shares also went up by more than 1%.

At the foreign exchange market, the peso closed 4 centavos stronger at P41.21 against the dollar.

Asian markets mixed

Asian markets were mixed on Tuesday in cautious trade as investors awaited the outcome of the knife-edge US presidential election, while concerns over the eurozone returned to the fore.

Eyes are also on the start this week in China of the Communist Party's 18th congress, which will see a once-in-a-decade leadership transition.

Tokyo softened 0.36 percent, or 32.29 points, to 8,975.15, Seoul rose 1.05 percent, or 19.95 points, to 1,928.17 and Sydney closed 0.24 percent, or 10.7 points, higher at 4,484.8.

Hong Kong slipped 0.28 percent, or 61.97 points, to 21,944.43 while Shanghai closed down 0.38 percent, or 8.03 points, at 2,106.00.

Tuesday's US poll sees President Barack Obama and his Republican challenger Mitt Romney neck-and-neck, leaving markets in a tight band as traders hold off making any bets until the outcome is known.

"Players remain on edge, as the outcome is simply too close to call," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.

Wall Street closed Monday slightly higher.

The Dow gained 0.15 percent, the S&P 500 advanced 0.22 percent and the Nasdaq added 0.59 percent. - With ANC and Agence France-Presse