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                    [Title] => Index weakens as property stocks drop on rate concerns
                    [Summary] => Shares fell yesterday, weighed down by property stocks ahead of the Central Bank’s interest rate-setting meeting later in the week.


The 30-company Philippine Stock Exchange Index closed down 17.50 points, or 0.8 percent, at 2,282.89, after advancing 3.2 percent Friday.


"People are awaiting what the Central Bank will do on prospects of further US rate increases and the recent weakness of the peso against the US dollar," said Erwin Balita, analyst at AB Capital Securities.


                    [DatePublished] => 2006-05-30 00:00:00
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AYALA LAND AND MEGAWORLD CORP

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                    [ArticleID] => 339322
                    [Title] => Index weakens as property stocks drop on rate concerns
                    [Summary] => Shares fell yesterday, weighed down by property stocks ahead of the Central Bank’s interest rate-setting meeting later in the week.


The 30-company Philippine Stock Exchange Index closed down 17.50 points, or 0.8 percent, at 2,282.89, after advancing 3.2 percent Friday.


"People are awaiting what the Central Bank will do on prospects of further US rate increases and the recent weakness of the peso against the US dollar," said Erwin Balita, analyst at AB Capital Securities.


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abtest

Index weakens as property stocks drop on rate concerns

May 30, 2006 - 12:00am

Shares fell yesterday, weighed down by property stocks ahead of the Central Bank’s interest rate-setting meeting later in the week. The 30-company Philippine Stock Exchange Index closed down 17.50 points, or...

Business