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Article: Philippine stock market to breach 4,000-mark by year end
- Article from:
- Xinhua News Agency
- Article date:
- October 12, 2007
CopyrightCopyright 2007 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Philippine stock market to breach 4,000-mark by year end
MANILA, Oct. 12 (Xinhua) -- The Philippine stock market will
likely hit new heights toward the end of the year, with the index
likely to surpass 4,000 points, on anticipation of stronger corporate
profits and more foreign investments amid a better economy, local
media said on Friday.
Stock analysts said that further cuts in benchmark policy
ratesmight also encourage investors to shift their funds to the stock
market from fixed-income, said the Philippine ABS-CBN TV.
On Oct. 4, the Philippine Central bank slashed its key overnight
interest rates by 25 basis points. The bank has two morerate-setting
meetings left for the year, on Nov. 15 ...