NEWSFLASH

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STOCKS FALL, PHISIX INDEX DOWN 1.1%

Manila, Nov 13, 1997 - The Philippine Stock Exchange index fell for the second time in two days, losing 20.47 points or 1.1 percent, to 1841.81. Since the start of the year, the Phisix index has lost 42 percent.

Ayala Corp, which owns the biggest and most profitable property arm, lost P0.75 to close at P12.50. PLDT, which gets most of its revenue from overseas calls, fell P20 to close at P830.

Only the banks and financial services sector rose, gaining 2.60 point to close at 533.80 Commercial industrial lost 1.6 percent while the property index was down 0.57 point.