Philippines share prices could hit a new all-time high as the result of the generally peaceful mid-term elections, analysts said Friday. "We expect the market to attempt to reach the all-time high given... the positive sentiment, positive earnings, and healthier economy after the generally peaceful election, "said Lawrence de Leon of Accord Capital Equities Inc.
The Philippines held its elections on Monday for half of its 24-seat Senate and 275 seats in the House of Representatives as well as for thousands of local positions.
Although the death toll from election-related violence has hit 130, the voting itself was peaceful in most of the country. Average daily turnover this week rose to 3.69 billion shares worth 6.33 billion pesos (135.55 million dollars) from 3.52 billion shares worth 4.32 billion pesos in the previous week.