The stock market rebounded on Wednesday, gaining more than 2 percent to return to the 7,800 level on reports that the US and China could resume negotiations to end a trade war.

Following a 1.3-percent plunge on Tuesday, the benchmark Philippine Stock Excha nge index (PSEi) soared 2.17 percent or 166.22 points to end the day at 7,838.22, while the wider All Shares increased 1.64 percent or 75.40 points to finish at 4,679.52.