NEWSFLASH

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RP STOCKS RISE DESPITE HK WEAKNESS

Manila, Jan. 17, 1998 - The Philippine Stock Exchange index rose for the fourth straight day yesterday, pulled up by the growing strength of the peso.

The index gained 20.63 points, or 1.22 percent, to close at 1,706.85 obviously resisting any influence from a weak Hong Kong market opening.

Most traded stocks were PLDT, unchanged at P870 and Meralco B. up 5.04 percent to P125. Other notable gainers were Primetown Properties, up 37.50% to P3.30; Kuok Properties, up 37.14% to P0.48; Vulcan Industrial, up 36.84% to P0.26; Mabuhay Holdings, up 33.33% to P0.60 and Universal Robina Corporation, up 25% to P6.

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