Manila - Philippine shares soared by 7.31 per cent Tuesday as the leaders of developed countries made efforts to address the global financial turmoil.

The Philippine Stock Exchange's 30-share composite index gained 154.9 points to finish at 2,273.65.

A total of 1.87 billion shares valued at 3.61 billion pesos (76.80 million dollars) were traded.

Gainers outpaced losers 101 to 16 with 26 issues unchanged.

Analysts said stocks around the world soared as governments of developed economies infused public funds to support their countries' troubled banks.

They added that the local market would continue to track developments in the world financial markets. (dpa)