PSEi gains on favorable inflation view

The benchmark Philippine Stock Exchange index (PSEi) tilted higher on Monday on relatively thin volumes as investors bet that May inflation had eased for a fourth month in a row.

By the closing bell, the PSEi added 0.15 percent, or 9.63 points, to 6,521.64 while the broader All Shares index gained 0.33 percent, or 11.46 points, to 3,486.33.

A total of 1.73 billion shares valued at P3.38 billion changed hands while foreigners were net sellers amounting to P108.35 million, stock exchange data showed.

Last week, the Bangko Sentral ng Pilipinas said inflation in May was forecast to fall within the range of 5.8 percent to 6.6 percent.