PSEi gains 0.5% to all-time high, buoyed by foreign buying

(Updated 6:15 p.m.) The Philippine Stock Exchange index remained buoyant in active trading Wednesday, closing at an all-time high, helped by foreign buying in the absence of adverse news on the domestic front.   “I believe the strength of the market comes from continued liquidity flows over and above our good economic fundamentals,” said Ramon Torres, vice president for portfolio management at UCPB Trust Management Group.   “We are also expecting a boost from election spending until 2013,” Torres added.   The main PSEi rose 26.84 points or 0.5 percent to close at 5,375.520. Wednesday's close surpassed the 5,369.98 record last July 5.   More than 7.567 billion shares valued at P6.226 billion changed hands.   However, decliners led advancers 84 to 68 with 55 issues steady as players took profits on fast-moving stocks.