1.   Foreign fund managers have trimmed their Philippine holdings amid comparisons with Thailand, where overbuilding, rising interest rates and slowing economic growth caused widespread loan defaults.

2.   Foreign fund managers trimmed their Philippine holdings after making comparisons with Thailand, where overbuilding, rising interest rates and slowing economic growth caused widespread loan defaults.

3.   Other large capitalization stocks preferred by institutional investors declined amid concern that a rise in U.S. interest rates could cause foreign fund managers to trim their Philippine holdings.

4.   They say more aggressive managers could trim spending enough to alleviate the need for a fare increase.