Stocks climbed to a new all-time high past the 6,700 level on Monday, February 25.
The Philippine Stock Exchange index rose 56.27 points or 0.84% to 6,721.33 from Friday’s close of 6,665.06. It exceeded the previous all-time high of 6,667.41 set on February 21.
The wider all-share index climbed 33.60 points or 0.81% to 4,176.94.
All counters advanced, led by the industrial sector, which gained 1.68%.
The market rose on strong corporate earnings reports, and the usual month-end window dressing. Fund managers window dress by selling stocks with large losses and purchasing others that have performed well to make their portfolios attractive to clients.
Source: Rappler.com
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