Business

PSEi charges to bull market on Monday

The Philippine Stock Exchange index (PSEi) officially kicked off its bull run on July 15.

The Philippine Stock Exchange index (PSEi) officially kicked off its bull run on July 15.

Halfway through the month, the benchmark index carrying the 30 heavyweights among listed companies marched into bull market territory, clocking in beyond 8,200 on Monday morning.

PSEi to hit 8,600 in 2019

This spells a marked resurgence for local stocks, coming from a slump late 2018 that pulled down shares to bear market.

The PSEi climbed 78.16 points or 0.96 percent from Friday’s close. Lower interest rates and easing inflation have fueled the stock market’s solid run, Bloomberg reported. The PSEi is now at 8,219.98 as of 10 a.m.

Will this run last? Stay tuned.

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