SM Investments Leads Drop Among Philippine Stocks After MSCI Cut
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SM Investments Corp., the holding company of Filipino billionaire Henry Sy, led a decline in Philippine shares after MSCI Inc. cut the weighting of the company in some of its indexes.
The stock slumped 7.7 percent to 805.50 pesos in Manila, the lowest close since June 26. It was the biggest contributor to a plunge in the Philippine Stock Exchange Index, which fell