STOCKS FALL 2%, PESO DROPS 43 CENTAVOS
Manila, Nov. 26, 1997 - The peso depreciated against the US dollar by 43.7 centavos, trading at a weighted average of P34.678 from P34.241 Monday. Volume of transactions amounted to $131 million.
At the Philippine Stock Exchange, share prices fell 2% yesterday due to pessimism about corporate performance and lingering concerns about the fall of Japan's Yamaichi Securities.
The Philippine composite index fell 36.62 points to close at 1,795.35 points. Volume rose to 2.176 billion shares worth P875.16 million compared to 1.728 billion shares valued at P1.077 billion the day before.
Reported by: Sol Jose Vanzi
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