PHL stocks get lift from bargain hunting, low interest rates

Most shares on the Philippine Stock Exchange rose in active trading Tuesday, lifted by bargain hunting and historic low yields from the latest Treasury bill auction.   “The market rallied after the T-bills auction [rates were] at historic lows,” said Jonathan Ravelas, market strategist for BDO Unibank, adding, “And [there was] bargain hunting.”   The PSEi gained 40.16 points or 0.76 percent to close at 5,348.68.   More than 6.417 billion shares valued at P5.556 billion were traded.   Gainers overwhelmed losers 83 to 68, with 58 issues unchanged.   During Monday’s T-bill auction, the 91-day paper fell to 0.712 percent from 0.745 percent and the government sold P1 billion on total tenders of P3.97 billion.   The higher closing of Wall Street stocks overnight also “helped improve the sentiment,” Ravelas said. — GMA News