PSEi sinks below 5,900 on rising yields, oil prices

PSEi sinks below 5,900 on rising yields, oil prices

MANILA, Phiippines — Local stocks sank below the 5,900 level on Friday as rising treasury yields, elevated oil prices and a weak peso dampened investor appetite. The benchmark Philippine Stock Exchange Index (PSEi) fell 1.72 percent, or 102.73 points, to close at 5,855.91. READ: Diesel seen up by as much as P10.50 per liter next week Meanwhile, Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said this marked the PSEi’s lowest level in more than three and a half months, or si