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Local Equities Rebound

The local equities rebounded for the second straight day due to bargain hunting. The PSEi gained 86.19 points, or +1.22% to close at 7,154.22. Most indices ended in green led by the property (+2.48%) and financials (+2.17%) sectors.

Market breadth was positive with 111 advances outnumbering 67 declines, while 41 issues remained unchanged. Total value turnover reached Php3.31 billion. Foreign investors were net buyers at Php16.33 million.

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Local Equities Gain on Fed Interest News

The local equities market gained 55.45 points (+0.77%) to close at 7,287.29, advancing for the third consecutive day due to positive investor sentiment after the Federal Reserve decided to keep interest rates low for a “considerable time” after QE3 ends.

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Local Equities Going Higher

The local equities market closed the day higher, tracking gains in the US equities market brought on by recently released, robust manufacturing data. This served to confirm suspicions that previous months’ weakness was due to the unusually harsh winter.

Also, markets worldwide were relieved that sanctions imposed by the West on Russia and certain Ukrainian individuals would be of negligible economic impact, thus far. The PSEi surged forward, jumping 66.56 points, or +1.04%, to close at 6,466.55.

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