NEWSFLASH

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STOCK MARKET LOSES 36 POINTS

Manila, Oct. 3, 1997 - The Philippine Stock Exchange index shed 36.15 points to close at 2,031.47 as the market rippled with renewed fears on banks affected by loan defaults.

Turnover reached P2.04 billion, on a volume of 1.2 billion shares, with losers outnumbering gainers, 81-32.

Investors continued to dump banking issues with PNB down by P4.50 to close at P74, and Metrobank closed at P292.50 for a day's loss of P12.50.

Some bargain-hunting is expected tody, especially in the banking sectors.

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