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PSEi extends gains for second straight session

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Philippine share prices climbed for the second consecutive session on Monday, following the drop in US bond yields.

The main PSEi gained 9.70 points or 0.14% to 6,917.49 at the closing bell. The broader All Shares climbed 16.71 points or 0.40% to 4,191.36.

"Philippine shares eked out slight gains as bond yields fell despite data showing US inflation running hot," Luis Limlingan, head of sales at Regina Capital Development Corp., said in a mobile message.

Yields on the benchmark 10-year Treasury note fell to 1.455% on Friday, and at one point sank to 1.428%, to mark its lowest since March 3.

Foreign investors have sold a net of $30 billion from the peak in late January, wiping out the gains from late May 2020 to suggest light overall foreign positioning.

More than 3.926 billion shares, valued at P6.322 billion, changed hands. Winners led losers, 117 to 91, and 54 issues were unchanged. —NB, GMA News

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