PSEi rebounds 0.34% to 6,122.71 as bargain hunters emerge

Philippine stocks rebounded on Tuesday, with the PSEi closing 0.34 percent higher at 6,122.71, as bargain hunters bought shares after a previous day's sell-off.

The broader All Shares Index also gained 0.24 percent, settling at 3,691.59.

Investors were attracted to cheaper stocks following concerns about flood control issues that had previously impacted market sentiment.

Global sentiment also influenced the local market, with traders mirroring Wall Street's gains prompted by expectations of further rate cuts after weak US employment data.

All local sectoral gauges were up, except for industrial, which retreated by 0.93 percent, while mining and oil led the charge with a 2.11-percent surge.

Total value turnover improved to P6.23 billion from the previous day's P5.72 billion.