The stock market hit a new all-time high on Thursday, closing in on the 8,500-point territory as trading resumed after a two-day break and investors digested news that the US Federal Reserve was keeping interest rates steady. The benchmark Philippine Stock Exchange index (PSEi), which rose to an intraday high of 8,543.80, ended the day up 1.80 percent or 150.76 points at 8,516.02. “Banks also did well and the general mood in the [Asian markets] was quite buoyant and helped restore optimism,” he added. The policymaking Federal Open Market Committee voted unanimously to leave interest rates unchanged but indicated that it remained on track to raise rates one more time this year. Winners led losers, 116 to 79, while 47 issues were unchanged.

Source: Manila Times November 02, 2017 18:00 UTC