REGIONAL SELL-OFF DRAGS SHARES DOWN
Manila, Dec. 12, 1997 - Stocks fell dramatically across the board yesterday, influenced by the sell- off of foreign portfolio managers in neighboring countries.
The Philippine Stock Exchange index fell 97.21 points, or 4.9% to 1,875.63. It had slipped by 6.66 points the day before, breaking an 8-day rally.
Leading the stock market's plunge were its main blue chips: Ayala Land, Ayala Corp., PLDT and San Miguel Corporation.
Reported by: Sol Jose Vanzi
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