NEWSFLASH

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STOCKS FAIL TO SUSTAIN REBOUND

Manila, Oct. 31, 1997 - Philippine stocks dipped marginally Thursday as the market failed to maintain the previous day's strong showing and recovery from earlier losses.

The Philippine Stock Exchange index slipped .99 point, or 0.05 percent, to 1,813.16 as the stock market focused more on corporate earning announcements than on developments in other stock markets in the region.

Trading was thin with only P925 million worth of shares changing hands. Losers overwhelmed gainers 72 to 36.

Some traders said concerns on high domestic rates and the unstable foreign exchange markets will continue to hound the Manila equities market.

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