The Philippine Stock Exchange posted at least five new stock market records this year amid challenges faced by the market.

Francis Lim, PSE president and chief executive officer, said in a press statement the market's sustained growth raised the year-end level of the main index, market capitalization, value turnover and proceeds from capital-raising activities.

The PSEi, the main barometer of local stock price movements, jumped 21.4 percent to 3,621.6 points at the end of 2007 from 2,982.54 in 2006 to record the index's highest year-end closing level.

The 2007 closing level of the PSEi topped the previous year-end record level set way back in 1993 at 3,196.08 points and marked the fifth straight year of advance of the main index, the press statement added.

Annual value turnover also chalked up a new record high of P1.34 trillion, which was 133 percent more than the P572.63 billion recorded in 2006.

The year-end level of the market's total capitalization reached P7.98 trillion or 11.2 percent higher than the P7.17-trillion previous yearend record high tallied in 2006.

Domestic market capitalization went up by 27.3 percent to P4.27 trillion to beat the previous yearend high of P3.35 trillion set in 2006, the statement said.

Proceeds from public offerings and other means of pooling capital for listed companies grew to a new all-time high of P89.85 billion in 2007 or 57 percent more than the old annual record high of P57.23 billion in 2006.*

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