ARTICLE SERVICES            Reprint this article     Print this article       Send as an e-mail     Send Feedback       Post a comment       RELATED STORIES   Market eyeing foreign lead -- dealers Asian stocks bounce back from 5-year low Shares open 1.7% lower GALLERY 1 2 Next   Zoom    STILL SMILING. A Filipino trader smiles despite plunging share prices at the Philippine Stock Exchange in Manila's financial district in Makati on November 21, 2008. Share prices closed 4.14 percent lower, tracking falls on Wall Street overnight amid weak US economic data, dealers said. The composite index was down 76.43 points at 1,765.90 points. AFP/ROMEO GACAD Zoom    Read Full Story GOING DOWN. A Filipino trader monitors plunging share prices at the Philippine Stock Exchange in Manila's financial district in Makati in this file photo. Share prices closed 4.15 percent lower on Friday. AFP/ROMEO GACAD China wants new global monetary system Solons caution gov’t on privatization More Stories » Business Aim to retire with no debts PLDT taps Meralco for new venture Corporate war comes to Philex RCBC bent on expansion EDC to raise P18B more April exports fall 35.2% on year Wall Street crook to earn pennies Piltel transforms into holding firm Plan your fun-spending this summer Money lessons you won't learn in class Business New mobile network offers lowest call rate GMA 7 expanding overseas Thrift bank up for sale Hope for the farmers in 2010 MetroPac heats up race for SCTEx BSP wants cover for forex losses ADB sees poverty on the rise in Asia MacroAsia seen to complete mine exploration S&P affirms RP ratings, stable outlook Rise in construction materials price eases 5 projects get BOI perks Mobile money exchange scheme launched   Business Most Read RSS Buencamino Photography & Associates Look for: Erwin Buencamino /Ana Marie Pia Tel.No.: +632.535.5360/+632.7172513 Mobile: +63.917.5410141 Instant Rewards! Buy Donaldson filters. Redeem your dream holidays, electronic gadgets etc...

MANILA, Philippines -- (UPDATE) Share prices closed 4.15 percent lower on Friday tracking falls on Wall Street overnight amid weak US economic data, dealers said.

The composite index was down 76.43 points at 1,765.90 points.

The all-shares index fell 2.97 percent to 1,153.79 points.

There were 11 gainers, 79 losers with 34 unchanged.

Turnover amounted to 820.2 million shares worth P1.17 billion ($23.36 million).

The local currency traded at 50.076 to the dollar.

"We're seeing heightened fear of recession everywhere," James Lago of PCCI Securities Brokers told Dow Jones newswires.

"Analysts are also looking at ratcheting down (earnings) forecasts for 2009," he added.

Philippine Long Distance Telephone Co. fell 5.5 percent to P2,060.00.

Ayala Corp. slipped 3.86 percent to P174.00 while its real estate flagship, Ayala Land Inc. dropped 5.17 percent to P5.50.

San Miguel Corp. saw its A shares drop 1.19 percent to P41.50 while its B shares were unchanged at P42.00.

• Market eyeing foreign lead -- dealers
• Asian stocks bounce back from 5-year low
• Shares open 1.7% lower

• China wants new global monetary system
• Solons caution gov’t on privatization