The stock market picked up right where it left off before the long holiday break, finishing with another record high on the first trading day of 2018. The peso likewise started 2018 on a positive note, gaining 12 centavos to close at its strongest level in six months on the back of strong dollar inflows, particularly remittances from overseas Filipinos. 1

 “The back-to-back closing at new record highs on the first trading day of 2018 and last trading day of 2017 is an auspicious sign for our stock market. Investor confidence and optimism were very apparent in today’s trading and we hope our market will remain robust for most of the year,” said PSE president Ramon Monzon. 2

“We anticipate an exciting 2018 for the local market given the plans we have set for the Exchange. We look forward to the launch of new products and services that should make our market more robust and attractive to both foreign and local investors,” PSE President and CEO Ramon S. Monzon said. 3

 

Sources:

1 http://www.philstar.com/business/2018/01/04/1774293/stocks-hit-new-peak-peso-6-month-high
2 http://business.inquirer.net/243484/stocks-welcome-2018-record-finish
3 https://businessmirror.com.ph/share-prices-zoom-to-record-high-on-first-trading-day-of-new-year/