At long last, 7,000 yields on massive power from telco, internet stocks

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The benchmark Philippine Stock Exchange Index broke past the 7,000 psychological barrier on Wednesday as heavyweight telco and internet stocks rallied. | miguelrcamusINQ

The measure is comprised of the top 30 companies in the exchanges of six countries in Southeast Asia, namely Indonesia, Malaysia, Singapore, Thailand, Vietnam and the Philippines.

Shares of Wilcon Depot Inc. also soared over 8 percent after the Philippine Stock Exchange announced it will be included in the PSEi effective Oct. 11, replacing First Gen Corp. Globe Telecom was the most actively traded company on Wednesday as it jumped 9.51 percent to P3,410 per share. It reached a high of P3,418 earlier in the session.Converge gained 4.76 percent to P44 per share, after touching a high of P45.40 per share.

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