PSEi rallies for 3rd day on positive US data

Philippine shares rallied for a third day on Wednesday as optimism about the strengthening US economy spilled over to the Asian markets, largely dispelling concerns over the likelihood of a rate hike by the Federal Reserve.

The benchmark Philippine Stock Exchange Index (PSEi) advanced by 1.46 percent or 107.23 points to close at 7,463.95, while the broader All Shares rose by 1.02 percent or 45.20 points to end the trading day at 4,457.31.