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Article: Roundup: Philippine market closes lower as investors take safe side

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Xinhua News Agency
Article date:
August 20, 2009
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Roundup: Philippine market closes lower as investors take safe side

MANILA, Aug. 20 (Xinhua) -- Investors took the safe side on Thursday by booking their gains rather than risk looking them during the long break.

The bellwether Philippine Stock Exchange index lost 1.47 percent or 40.71 points to 2,720.18, while the all share index slipped by 1.2 percent or 21.34 points to 1,744.29. For the week, the Philippine market has lost 4.77 percent of its value after going down for three of the four trading sessions.

Trading on Thursday was within average where some 3.11 billion shares worth 3.62 billion pesos (75.35 million U.S. dollars). Foreign investors were net buyers at 332 million pesos ...

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