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Philippine stocks end lower, XINHUA

URL: http://www.xinhua.org

MANILA, Nov. 10 (Xinhua) -- The Philippine share prices closed lower Wednesday due to profit-taking after Moody's Investors Service said it had placed the Philippines' credit ratings under review for possible downgrade given Congress's failure to pass into law

crucial tax measures, dealers said. The composite index closed down 9.85 points or 0.55 percent at 1,779.18, while the all-share index shed 27.35 points at 1,143.44.

In the broader market, losers beat gainers 42 to 25, with 37 stocks unchanged. Turnover reached 1.52 billion shares worth 825.59 million pesos (14.65 million US dollars) against Tuesday's 1.39 billion shares worth 1.24 billion pesos (22.05 million dollars).

Copyright 2004 XINHUA all rights reserved as distributed by WorldSources, Inc.

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