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Philippine market said undergoing "corrective phase".

BBC Monitoring International Reports

| September 02, 2009 | COPYRIGHT 2001 BBC Monitoring. (Hide copyright information)Copyright

Text of report in English by official Chinese news agency Xinhua (New China News Agency)

[Xinhua "Roundup": "Philippine Market Continues To Undergo Through a Corrective Phase"]

Manila, Sept. 2 (Xinhua) - The Philippine market continues to undergo through a corrective phase, shedding the excess it made the previous week.

The bellwether Philippine Stock Exchange index tumbled by 1.56 per cent or 44.72 points to finish at 2,808.21 on Wednesday, while the all share index slipped by 1.24 per cent or 22.53 points to 1,793.67.

Trading was lower and only a total of 2.27 billion shares valued at 2.57 billion pesos (52.62 million US dollars) were exchanged. …

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