“The PSE Board and Management extend their condolences to the Aquino family,” the local bourse operator said in a statement.
“The Philippine stock market recorded several milestones during the term of President Aquino as his policies transformed the Philippines from a high credit risk to an investment grade rating country starting in 2013. We pray for the eternal repose of his soul,” it added.
The PSE index surged to the 8,000 level in 2015, the fifth year of Aquino’s reign, from just the 3,000 level in 2010. Aquino, an economics graduate from the Ateneo de Manila University, made sure to be there to ring the PSE bell to boost investor confidence.