The Philippine Stock Exchange index (PSEi) closed at 7,716.06, up by 1.4 percent. It was the first time the main index closed at the 7,700 level.
The previous record close was 7,689.91 on January 30, 2015.
"While the PSEi trekked higher mostly in-step with Wall Street and other Asian markets, the Philippine story remains attractive to investors. The positive expectations continue to support the market’s uptrend," said PSE President and CEO Hans B. Sicat.
The PSEi also climbed to a new all-time intraday high at 7,738.12.
The Lucio Tan Group was the biggest gainer, as it surged over 8 percent to a three-month high.
Reuters said tobacco sales of PMFTC Inc, the joint venture of LT Group and Philip Morris International Inc, are seen improving this year on higher disposable income resulting from lower oil prices, says Luis Limlingan, analyst at Regina Capital Development Corp in Manila.
Petron also continued its rally for a fourth day, still on the recent rise in global oil prices.
Other big gainers include Semirara Mining and PLDT.
At the foreign exchange market, the peso strengthened to P44.11 against the US dollar. - With Reuters and ANC
source: www.abs-cbnnews.com
