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