Local shares up; index tops 7,800

Local shares closed higher yesterday on strong buying sentiment, bringing the benchmark Philippine Stock Exchange index (PSEi) back to over the 7,800 mark. The PSE finished 38.95 points or 0.50 percent higher at 7,787.62. The wider All-Shares index also ended 20.68 points or 0.45 percent up at 4,654. 93. Trading volume improved with 1.80 billion shares, valued at R12.0 billion, changing hands. However, decliners topped advancers, 9892, with 42 issues unchanged.