NEWSFLASH

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STOCKS JUMP 6%

Manila, Jan. 16, 1998 - Technical correction, bargain hunting and a stronger peso were all cited as reasons for the invigorated trading at the Philipine Stock Exchange yesterday, where the index gained 95.23 points or 5.99% to close at 1,686.22 points.

All sectors ended on the upside led by the commercial-industrial index, which closed 126.24 points higher at 2,404.71. The mining sector was the second highest gainer at 2,071.80, up 189.48 points.

Trading was P1.87 billion, with PLDT gaining P50 to close at P870 after its US-traded hares rose 2.7% in New York. Urban Bank rose P10 to P110.

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