PSEi climbs above 6,800 level

Philippine stocks surged Wednesday, following the rally in other Asian markets.

The Philippine Stock Exchange index advanced by 74.78 points, or 1.11 percent, to close at 6,830.04, while the broader all-shares Index climbed 27.71 points, or 0.78 percent, to reach 3,566.76.

The big gains in China stocks, as authorities committed to support its slumping market, also lifted Asian equities.

Philstocks Financial Inc. research analyst Claire Alviar said the recent string of positive economic data including the easing inflation rate and rising employment also boosted the local market.

Net market turnover reached P6.13 billion.