Philippine Stocks Retreat as Foreign Funds Trickle Out: Chart

(Bloomberg) -- Philippine stocks have retreated since the nation’s benchmark equities closed at an all-time high on Nov. 6 as overseas investors pocketed some gains and withdrew funds following seven straight months of inflows, the longest stretch since 2014. This month’s outflow has so far reached $41.6 million, the biggest since March. The Philippine Stock Exchange Index has rallied 22 percent this year, poised to halt two years of declines, as investors were seduced by one of Asia’s fastest growing economies and the government’s tax reform and infrastructure push.

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