President Benigno Aquino 3rd said he hopes to see the Philippine Stock Exchange index (PSEi) reaching “greater heights” before the end of his term, trading in the 9,000 to 10,000-point range toward 2016.
“I expect to ring the bell of the celebration of the index breaching 9,000 and 10,000 points hopefully before I step down,” Aquino said in a speech during a special bell ringing ceremony at the PSE on Tuesday morning.
As of 9:40 a.m., the bellwether PSE index was up 0.12 percent or 9.41 points at 8,082.66, bouncing back from Monday’s dip.
The index has been trading in record territory, passing the 8,100 mark last week and settling at an all-time high of 8,127.48 on Friday.
Aquino said he “remains bullish” on the prospects of the country’s economy, mirrored by the market’s recent highs, consecutive investment grades from the global ratings agencies, benign inflation and other positive factors that lift investor confidence in the Philippines.
On Monday, the PSEi slipped on profit-taking, losing 0.67 percent or 54.23 points to 8,073.25, while the All Shares index shed 0.40 percent or 18.62 points to 4,616.76.