The bulls are loose at the PSE as stock prices continue to soar rapidly. Last Friday, stock prices hit a new all-time high, soaring 42.67 points or 1.17 percent to 3,671.29 while the value turnover swelled to P9 billion.
Analysts said they expect the bull run to continue and possibly even breach the 3,800-4,000 level in the short term due to positive economic and corporate numbers.
The economy, measured by the gross domestic product (GDP), posted a 6.9 percent growth during the first quarter of 2007. The strongest GDP performance in the last 17 years, the new record was attributed to the rise in exports, increased household consumption, higher government spending, and growing investor confidence.