Local shares bounce back

After days of downtrend, local shares finally rebounded strongly yesterday as Asian markets mostly bounced back Tuesday from the previous day's hefty sell-off, on hopes Donald Trump can push through his economy-boosting agenda despite last week's healthcare debacle. The benchmark Philippine Stock Exchange index (PSEi) closed 85.49 points or 1.18 percent higher at 7,331.46. The broader All Shares index also rose by 41.21 points or 0.92 percent at 4,411.21. Trading volume improved with a total of 1.59 billion shares, valued at 16.62 billion, changed hands. Advancers swamped decliners, 100-80, with 48 issues unchanged. Meanwhile, Tokyo ended 1.1 percent higher, having slumped 1.4 percent Monday.