Local shares close higher

Local shares tracked regional markets and closed higher inspired by the strong overnight rally in Wall Street. The benchmark Philippine Stock Exchange index (PSEi) gained 58.15 points, or 0.75 percent, to end at 7,789.10, while the broader All Shares index went up by 24.50 points, or 0.55 percent, to close at 4,522.09. Except for services, majority of the sectors were also on the positive territory. Market breadth improved with total value turnover rising to 9.3 billion. At the same time, advancers finally beat decliners, 93 to 85, while 41 were unchanged.