Aquino optimistic stock exchange index will hit record high points before he steps down

President Benigno S. Aquino III said he is hopeful that the Philippine Stock Exchange (PSE) index would sustain its winning streak and reach the 9,000 to 10,000 levels before he steps down from office next year.
“I expect to ring the bell in celebration of the index breaching the 9,000 and 10,000 levels, hopefully before I step down from office,” the President said during the bell ringing ceremony at the PSE in Makati City on Tuesday (Aprilo 14).
"In almost five years, we have seen the PSE index go from record high to record high, I’m told: 119 in total, with the index breaching the 5,000, 6,000, 7,000, and 8,000 levels. The most recent all-time high was recorded just last Friday, when the index closed at 8,127.48 points, or more than double the index’s value the first time we were here together,” he added.

The President said the winning streak of the PSE index “stands as a sound reminder of the optimism that continues to surround the Philippines.”

"I am told that trading activity increased by 40 percent year on year, from P457.08 billion in the first quarter of 2014, to P641.59 billion in the same period of 2015. Within that same period, net foreign buying also grew by 182 percent, from P17.33 billion in the first quarter of 2014, to P48.87 billion in the first quarter of 2015,” he noted.

President Aquino said he has been bullish on the country long before it regained prominence in the global economy because he trusts the Filipino people, whom he referred to as the country’s greatest resource.

“This is why government has made critical investments in health care, social services, and education: we want to empower our citizenry to become greater participants in growing the economy,” he said.

"Might I remind you today that the kind of success, the kind of governance we are experiencing can be a perpetual reality, and that our people will make that happen. I sincerely believe that, next year, Filipinos will choose wisely, and will choose someone who will likewise tread the straight path. Like any other sector, you have a significant role to play. As we celebrate this historic achievement, I invite you to join us in engaging all sectors, towards continuing this momentum—not only the momentum of our stock market, but also and more importantly, of our entire country,” the President concluded.

Joining the President in the bell ringing ceremony were PSE Chairman Jose Pardo, PSE President and Chief Executive Officer Hans Sicat, PSE Director Eusebio Tanco, Finance Secretary Cesar Purisima, and top officials of listed companies. (PCOO News Release)