The Philippine Stock Exchange index (PSEi) soared to record-high levels 14 times for the entire 2017 — the last peak marking that year’s final trading day on Dec. 29 — with analysts citing investors’ unwavering confidence in the Philippines’ solid economic fundamentals. As of Feb. 11 this year, the PSEi had already peaked ten times. The last all-time high was recorded on Jan. 29, when the main index finished at 9,058.62. Partly credited with lifting the PSEi was enactment on Dec. 19 last year of the first tax reform package that forms part of an entire program aimed at making Philippine taxation fairer — by shifting the burden more on those who can afford to pay more — while raking in more revenues. There are three to four more packages in the pipeline that will provide periodic boosts to equities in the months ahead.

Philippines’ stock index’s record high finish by MBG / BusinessWorld

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