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Byline: AFP and Kristine Jane R. Liu
Share prices closed higher yesterday in line with most Asian bourses following a decision by the US Federal Reserve to cut interest rates, dealers said.
The composite index rose 4.7% or 84.29 points to 1,864.93, extending Wednesday's 4.5% rise. The market was previously at a four-year low, after losing as much as 20% in five straight sessions.
A total of 1.9 billion shares worth P2.49 billion changed hands.
Gainers swamped losers 88 to 21, while 27 stocks ended unchanged. All sectoral indexes ended in positive territory.
"Concerted efforts by global central banks to cut interest rates in order …