MANILA, Philippines - The Philippine Stock Exchange index fell the most in five months, as investors dumped stocks they deemed expensive.
The index was down 1.4%, its biggest one-day loss since July this year. It settled at 5,707.11.
Leading Friday's losers are Ayala Land, which dipped 3% and Metrobank which is down 2.14%.
Alliance Global Group also dropped by 1.79%.
Meanwhile, at the foreign exchange market, the peso ended barely changed, closing at 41.09 against the dollar. - ANC