PSEi surges 146 points, highest gain in two years

The Philippine Stock Exchange index (PSEi) posted its highest point-gain in more than two years buoyed by similar upticks in global bourses. The PSEi surged 146.02 points or 3.6 percent to close at the 4,148.90 level. Value turnover reached P7.87 billion. According to a statement from the PSE, the local index "also staged its biggest percentage gain in seven months." “After a healthy correction, we are pleased that the market has renewed its uptrend as it draws inspiration from the rebound in global markets," PSE President and Chief Executive Officer Val Antonio B. Suarez said. The surge was felt across the board as 103 issues advanced while only 31 issues declined. There were 39 issues unchanged. -- OMG, GMANews.TV