PSEi rebounds as bargain hunting kicks in

The Philippine Stock Exchange Index (PSEi) rebounded on Tuesday, climbing by 0.34 percent to close at 6,122.71, as traders capitalized on lower stock prices following a previous day's selloff.

Investors were motivated to buy bargain stocks, especially after concerns over flood control issues had previously dampened market sentiment.

The broader All Shares Index also saw gains, increasing by 0.24 percent to 3,691.59.

A significant volume of 1.99 billion shares valued at P6.23 billion were traded.

Market sentiment was also influenced by positive performance on Wall Street, fueled by expectations of a potential interest rate cut resulting from disappointing employment data.

Ayala Land Inc. emerged as the most actively traded stock, experiencing a 3.9 percent increase to P29.30.

Other active stocks included SM Investments Corp., BDO Unibank Inc., International Container Terminal Services Inc., and Bank of the Philippine Islands.