Stocks rebounded Tuesday, snapping a three-day slump, after the Bangko Sentral announced a policy driving more funds into the real economy from its special deposit account to support investments.

Investors also cheered the announcement by the Philippine Stock Exchange of an impending merger with the operator of the secondary debt market, which could drive more liquidity into the local financial market.

The Philippine Stock Exchange index, the 30-company benchmark, rose 52 points, or 0.7 percent, to close at 7,327.58.  Value turnover amounted to P9.7 billion.

The heavier index, representing all shares, also advanced 16 points, or 0.4 percent, to settle at 4,506.74, even as losers outnumbered gainers 100 to 70, with 49 issues unchanged.

Ayala Land Inc. emerged as the most active stock, with value turnover of P448 million.  The property developer climbed 2.8 percent to P35.50.  Parent Ayala Corp. was up 0.3 percent to P677.

SM Prime Holdings Inc. was the biggest gainer among the 20 most active stocks, climbing 3.5 percent to P20.70. Megaworld Corp. advanced 2.1 percent to P3.98 while parent Alliance Global Group Inc., the holding company of taipan Andrew Tan, rose 2.1 percent to P26.20.

Metropolitan Bank & Trust Co. increased 2.2 percent to P137, the biggest gain among banks.

Meanwhile, Asian stock markets fell Tuesday as investors waited for the US Federal Reserve to telegraph what it plans to do next with its economic stimulus program.

The Fed is conducting its third round of massive bond purchases known as quantitative easing to help drive down interest rates and spur lending. But recently improving data on the US economy has led to speculation that the Fed might consider scaling back the program or winding it down earlier than expected.

Fed Chairman Ben Bernanke will appear before Congress on Wednesday and the central bank will release minutes of its most recent policy meeting.

“When markets are this elevated, with US markets at record levels, investors generally look for any excuse to exercise caution,” said Stan Shamu, market strategist at IG in Melbourne.

Japan’s Nikkei 225 index fell 0.1 percent to 15,341.85. Hong Kong’s Hang Seng fell 0.6 percent to 23,364.36 amid profit-taking, analysts said. Australia’s S&P/ASX 200 lost 0.6 percent to 5,176.70 after minutes of the Reserve Bank of Australia’s May meeting, released Tuesday, showed the central bank expects the country’s economy to experience below-average growth this year. With AP