Stocks inch up to new record

The Philippine Stock Exchange index (PSEi) hit new peaks both intraday and at the close on Wednesday after a late-session rebound from mid-afternoon losses, pushed by positive corporate earnings results and optimism on the international markets.

Having notched another intraday record of 7,862.91 points before going into a slight correction on Wednesday afternoon, the benchmark stock index finished up 0.12-percent or 9.20 points at 7,844.06 – its 17th all-time high for the year,  The wider All Shares index, however, slipped 1.23 points or 0.03 percent to end at 4,546.02.