Philippine Stocks Drop From Record on Valuations: Manila Mover
This article is for subscribers only.
Philippine stocks fell from a record as valuations soared to a nine-year high.
Philippine Long Distance Telephone Co., the nation’s biggest company by market value, sank 2.6 percent from a four-month high. SM Investments Corp., the second-most valuable, dropped 1.5 percent from a record. Rizal Commercial Banking Corp. climbed to 16-year high.