Philippine Stocks Drop Most in Seven Weeks as Megaworld Slumps
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Philippine stocks fell the most in seven weeks, leading declines in Asia, as financial companies and power producers slid.
Megaworld Corp. plunged 6.1 percent, pacing losses by property developers. Metropolitan Bank & Trust Co. retreated 4 percent. Energy Development Corp., the nation’s largest geothermal power producer, slumped to its lowest level since August 2010.