NEWSFLASH

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SHARES RISE, PESO DROPS

Manila, Dec. 2, 1997 - Philippine share prices inched higher Monday on bargain hunting after the release of favorable economic data last week.

The Philippine Stock Exchange index gained 11.46 points, or 0.6 percent, closing at 1,783.40. Advancers were the commercial-industrial, oil and all-shares subindexes, while losers were the property and banks and financial services sectors.

Meanwhile, the peso closed lower against the US dollar as speculators accumulated dollars in case the Thai baht's drop leads to further strain on the region's currencies.

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