Local shares close lower

Local shares fell some more yesterday as investors got rattled by a succession of orders from the environment department hitting mining companies. Most Asian stock markets resumed their rally on Wednesday as traders cheered upbeat remarks on the US economy by Federal Reserve boss Janet Yellen and her suggestion interest rates could rise next month. Wall Street stocks smashed new records. The benchmark Philippine Stock Exchange index (PSEi) fell 32.54 points or 0.45 percent to close at 7,174.30. The wider All-Shares index likewise lost by 18.33 points or 0.42 percent at 4,365.25. Trading volume remained moderate with 2.56 billion shares, valued at R7.96 billion, changing hands. Decliners topped gainers 108-87, with 47 issues unchanged.