The local stock market continued to climb as positive earnings reports boosted investor sentiment. The main index rose 35.98 points or 0.54 percent to close at 6,658.59 as Conglomerates led the advance with only the Mining and Oil sector lagging behind. Volume improved but remained thin at 721 million shares worth P4.64 billion as losers still outnumbered gainers 105 to 73 with 57 unchanged. “The local shares continued to rebound from the prior Monday meltdown as investors digest more first quarter 2023 earnings reports,” said Regina Capital Development Corporation Managing Director Luis Limlingan. Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse extended its gains, thanks to the first-quarter earnings result. The market’s gain was also supported by the net foreign buying.” However,  she noted that, “The net market value turnover remained weak as investors were still waiting for the US inflation rate, Philippine GDP and the announcement for the Semi-Annual Index Review of the MSCI.” China Bank Capital Managing Director Juan Paolo Colet said “The index rose on the back of positive first quarter earnings results as well as bargain hunting ahead of key macroeconomic data releases.” He added that, “Value turnover improved as we saw some investors positioning in anticipation of US April inflation and Philippine first quarter gross domestic product figures. Those data points will dictate market performance for the rest of the week, and favorable results can push the index to 6,700 to 6,750.”