Shares rise on bargain-hunting before Fed move

PHILIPPINE STOCKS closed higher on Tuesday as players picked up cheap stocks following the market’s two-day slide, but sentiment remained cautious before the US Federal Reserve’s policy decision.

The benchmark Philippine Stock Exchange index (PSEi) went up by 0.32% or 19.40 points to close at 5,953.16, while the broader all shares index rose by 0.21% or 7.78 points to 3,589.51.