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Palace sees local bourse hitting 6,000 mark

President Benigno Aquino rings the bell at the Ayala Trading Floor of the Philippine Stock Exchange in Makati City on Tuesday. With Aquino are PSE Directors Emmanuel Bautista and Robert Vergara, DOF Secretary Cesar Purisima, PSE Chairman Jose Pardo, PSE Director Ma. Vivian Yuchengco and PSE President & CEO Hans Sicat. (photo by Jay Morales, Malacañang Photo Bureau) means BUSINESS

MANILA, Philippines -- Malacanang sees the local bourse hitting the 6,000 mark soon, after the Philippine Stock Exchange index closed at an all-time high of 5,030.58 points on Monday.

“The 6,000 point target is absolutely reasonable. It is not a remote goal,” Palace spokesman Edwin Lacierda said.

Lacierda called the breaching of the 5,000 point mark “another sign of confidence on our economy.”

“This goes to show that our economic fundamentals are sound,” he added.

President Benigno Aquino III rang the opening bell at the PSE Tuesday morning.

PSE chairman Jose Pardo said the breaching of the 5,000 point mark spells “the start of new, better things to come.”

Since Aquino assumed office, the index has climbed by 52 percent, Pardo said.