The Philippine Stocks Exchange index (PSEi) hit a new lifetime high yesterday of 3,452.38 before correcting. It managed to close 8.49 points higher than Wednesday, moving up a quarter of percent at 3,417.69.

The peso closed at 46.72 to the US dollar, a new 7-year high. Total trade at the Philippine Dealing System was a historic high of $815 million.

The peso traded from 46.90 to 46.72, compared with Wednesday’s close of 46.935.

Stock trade was hectic with property management companies, SM Investments Corp. and Ayala Corp. leading gainers while index-heavyweight Philippine Long Distance Telephone Co. and San Miguel Corp. succumbing to profit taking.

Meanwhile, Singapore’s benchmark stock index also hit an all-time high following Wall Street’s gains.

Malaysian stocks rose 0.4 percent, Thai shares had risen 0.15 percent.

The stock market in Indonesia was closed on Thursday, and will resume trade on Friday. The Dow Jones average on Wednesday had risen to its 23rd record close this year, as disclosure of a major investor’s stake in Citigroup and a buyout deal for Bausch & Lomb sparked speculation of more takeovers. The tech-laden Nasdaq index was up 0.88 percent.

Accord Capital Equities, Inc. analyst Claire Quiray said the market is consolidating preparatory to a new high.

Top-traded SM Investments went up P15 to P417.50.

Ayala Corp. went up P10 to P510. PLDT lost P20 to P2,525.

Ayala Land Inc. was up P0.25 to P15.25. San Miguel Corp. A shares lost P5 to P75, B shares shed P4 to P82.