By James A. Loyola
Local stocks finally bounced on Tuesday after trending downward since last week.
The Philippine Stock Exchange Index (PSEi) gained 31.20 points or 0.40 percent to close at 7,912.14 as all sectors advanced. However, losers continue to beat gainers 100 to 88 with 50 unchanged on higher volume of 1.32 billion shares worth P6.22 billion.
“Investors decided to buy into the Philippine market after digesting mixed headlines on U.S.-China trade relations,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Equity markets overseas also recovered following a meeting between US President Trump and Fed Chair Jerome Powell which was described as good and cordial.