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Stocks lost some ground Thursday after a two-day rally that raised the main index by triple digits.

The Philippine Stock Exchange Index declined 8.25 points to 7,713.32 points despite more foreign purchases of shares. Foreign buying reached P4.122 billion compared to selling by foreigners of P3.704 billion.

The peso strengthened to close at P48.10 against the US dollar from P48.160 on Wednesday. DMS