PESO STRENGTH BOOSTS STOCKS
Manila, Oct. 10, 1997 - Manila stocks broke through the 2,000 psychological barrier, buoyed y the strengthening of the peso and lower interest rates.
The main index jumped 58.67 points, or 3.01 percent, to close at 2,0005.50 points. All sectors posted gains, with banks leading the pack. Financial and banking shares were up by 5.93 percent.
However, total value traded was small at P1.1 billion, amidst continuing uncertainty and fears of volatility in the foreign exchange market.
Reported by: Sol Jose Vanzi
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