NEWSFLASH

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STOCKS RISE ON LAST TRADING DAY

Manila, Dec. 31, 1997 - Share prices rose a bit yesterday, the last trading day of the year. Investors shifted their funds to large companies which are expected to bear the currency crisis better than others.

The stock market will be closed from Dec. 30 to January 1, and will reopen for trading on January 2.

The Philippine Stock Exchange index rose 21.98 points to close at 1,869.23, a gain of 1.2% from Wednesday. The index has tumbled 40.74% from its opening of 3,154.48 at the start of 1997.

The Philippine stock market suffered from the fears of a property crash and by the currency crisis which is engulfing the region.

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