LOWER PESO PULLS DOWN STOCKS
Manila, Feb. 25, 1998 - Philippine stocks closed lower Monday as the peso slid to P40.55=$1 from Friday's P40.36 to the dollar.
The 30-share Phisix index fell 19.19 points, or 1 percent, to 2,116 points with losers beating gainers 72 to 25.
The peso was pressured by relatively heavy demand for US dollars, as the region's currencies continue to be uneasy over developments on the Indonesian rupiah.
Reported by: Sol Jose Vanzi
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