STOCK MARKET RALLY ENDS, SHARES DOWN
Manila, Oct. 16, 1997 - The stock market yesterday saw investors cashing in their profits, pulling down the Philippine Stock Exchange index substantially.
The Phisix closed 34.10 points lower at 2,040.11, with gainers outnumbering losers 64 to 61, while 42 of the 167 issues traded remained steady. Property counters led the losers, including Ayala Land B (down 5.71% to P16.50), Megaworld (down 4.08% to P1.88) and Fil- Estate Land (down 2.44% to P2.40).
A total of 1.26 billion shares amounting to P1.48 billion were traded.
Reported by: Sol Jose Vanzi
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