PSEi rebounds to 7,700 on China investment hopes

Local shares surged nearly 2 percent Tuesday, extending the previous day’s 2.9 percent rally, pushing the index to breach the 7,700 mark for the first time since August, when concerns about a Fed rate hike weighed on sentiment.

President Duterte’s visit to China this week has lifted the market for a second straight day Tuesday, with most analysts expecting the four-day state visit will result in more investments in the country, particularly on infrastructure.