Upon opening bell, investors were quick to the trigger and sold down their shares. It was just pure panic selling in the first ten minutes
PSEI previous close 3331.29 (February 27, 2007)
time--------down-----------PSEi-------% down
9:31-------132.37---------3199.06------3.97%
9:32-------270.29---------3060.90------8.12%
9:33-------279.66
9:34-------312.94
9:38-------333.39---------3000.90
9:39-------338.48---------2992.81----10.16%
The market quickly hits bottom just below the 3000 level. Within ten minutes, the market fell by 10%. The US DJIA market was down by just 3.29% and the major asian markets were down by just the same percentage in the morning trade. The market quickly rebounds and regains some ground to take advantage of bargains.
9:42-------306.49----------3024.80
9:44-------300.38
9:46-------292.20
9:54-------253.72
9:58-------239.14
10:02------230.34---------3100.95
The market has recovered by about 100 points after the next twenty minutes. The market now moves in a narrow range in the next hour
10:11-----213.37
10:12-----211.92
10:19-----213.57
10:25-----217.02
10:25--------------PhP 48.59 to $ 1.00
10;29-----219.51
10:30-----224.26
10:52-----215.12
10:56--------------PhP 48.59 to $ 1.00
11:07-----210.74----------3120.55
The technical bounce hits a resistance and bargain hunters / daytraders were quick to take profits as the selling mood still prevailed.
11:17-----226.73
11:20-----228.77
11:21-----230.70
11:23-----231.68----------3100.21
11:24-----232.12
11:25-----235.18
11:28-----237.86
11:30-----240.86
11:36--------------PhP 48.59 to $ 1.00
11:37-----243.03
11:47-----255.69
11:55-----256.89
12:01-----263.84---------3067.45-----7.92%
Market Close.
The market suffered one of; if not its worst one day decline. This was not due to any change in the country's economic fundamentals. But because of globalization, financial markets feel these sudden bouts of huge swings.
The decline of almost 8% may have been an over reaction and a rebound is expected. At this point, (3:20 pm MLA time) the DJIA futures is already up by 96 points, and the following major asian markets have declined by less than 3.0%
Japanese Nikkei -2.85%
HongKong HangSeng -2.04%
South Korean Kospi -2.56%
The steep drop should have been an opportunity for bargain hunting and if the consolidation persists if overseas markets remain weak, then an opportunity presents itself. The 3000 level seems to be a strong support. Immediate resistance is at the 3,100 - 3,120 level.
Value turnover for the day was a whopping Php 12 billion with almost half in block and cross transactions.
All sectors were in the red.
M-O -11.21%
Property -8.70%
Services -8.34%
Holdings -7.66%
Financial -6.46%
Industrial -5.76%
Gainers 4
Decliners 159
There was no index issue gainer.
The biggest index issue decliners for the day:
LC -15.15%
LCB -13.16%
PX -12.77%
BPC -12.50%
DMC -12.16%
SMPH -12.00%
BEL -11.54%
JGS -10.91%
JFC -9.91%
TEL -9.02%
Wednesday, February 28, 2007
US Markets also suffers worst loss since 911
The US Dow Jones Industrial Average (DJIA), which is the equivalent of our PSEi (Philippine Stock Exchange Index), fell by 416.02 (3.29%) as it felt the fallout from the drop in Chinese equities (wherein 900 stocks hit its 10% single day down limit) yesterday. The Dow Jones hit a low wherein the US equities market was down by more than 500 pts.
Just now, the Japanese Nikkei index was down already by nearly 670 points (3.75%) and the S. Korea Kospi index declined by 3.32% at one point in this early trade .
Just now, the Japanese Nikkei index was down already by nearly 670 points (3.75%) and the S. Korea Kospi index declined by 3.32% at one point in this early trade .
Tuesday, February 27, 2007
China Stock Market suffers a meltdown - February 27,2007
The China Stock Market fell about 9% today on concerns and fears of stricter government controls/crackdowns. Investors sold down their share holdings and the market experienced its biggest one day loss in a decade. (Just on the news.)
Asian Contagion has set in as most of the regional markets were also down in today's trading.
Malaysia -2.81%
Singapore -2.29%
Hong kong -1.76%
Philippines -1.44%
South Korea -1.05%
Japan -0.52%
Asian Contagion has set in as most of the regional markets were also down in today's trading.
Malaysia -2.81%
Singapore -2.29%
Hong kong -1.76%
Philippines -1.44%
South Korea -1.05%
Japan -0.52%
The days' market - February 27, 2007
PSEi previous close 3,380.00 (Febraury 26, 2007)
The market opened lower and it immediately became apparent that the 3,380 support would not be holding.
time-----down-----PSEi
9:31-----3.98
9:34-----1.48
9:42-----8.25
9:47-----9.87
9:50-----11.33
9:53-----10.65
9:58-----13.89
10:00----17.00----3363.00
The market tries to stage a mild rally
10:12----11.16
10:18----15.28
The market now accelerates its downtrend as a charge to the 3,400 level was now unlikely
10:20----18.11
10:28----19.69
10:30----20.42
10:31----22.81
10:32----26.76
10:34----27.11
10:40----21.87
10:46----23.89
10:48----25.87
10:50----27.88
The market falls through the next support level at 3,350
10:54----35.24----3344.76
10:59----37.15
11:01----39.43
11:03----41.11
11:07----38.53
11:10----41.26
11:14----43.93
11:15----44.98
11:17----45.00----3335.00
11:20----42.72
11:24----43.96
11:26----49.44
11:27----46.36
11:34----47.87
11:37----51.21
11:43----51.70
11:44----53.12
11:47----54.48
11:53----54.70
11:55----54.72
The market touches its day's low before slightly recovering at the end of the trading day.
11:57----55.05----3324.95
11:59----51.15
12:01----48.71----3331.29
Market Close.
All sectors were also down,
Property -2.39%
Holdings -2.33%
Services -1.49%
Industrial -0.50%
M-O -0.45%
Financial -0.36%
Decliners now swamped Gainers 98 to 42.
The peso moved in a range from PhP 48.249 to PhP 48.256 vs the $US in the morning trade.
The market support is now seen at the 3,300 - 3,320 level. Momentum is seen to carry over and have the PSEi test it as a base.
A sudden turnaround or a dead cat bounce still cannot be discounted as investors are just at the sidelines waiting for a chance to get in back the market.
The market opened lower and it immediately became apparent that the 3,380 support would not be holding.
time-----down-----PSEi
9:31-----3.98
9:34-----1.48
9:42-----8.25
9:47-----9.87
9:50-----11.33
9:53-----10.65
9:58-----13.89
10:00----17.00----3363.00
The market tries to stage a mild rally
10:12----11.16
10:18----15.28
The market now accelerates its downtrend as a charge to the 3,400 level was now unlikely
10:20----18.11
10:28----19.69
10:30----20.42
10:31----22.81
10:32----26.76
10:34----27.11
10:40----21.87
10:46----23.89
10:48----25.87
10:50----27.88
The market falls through the next support level at 3,350
10:54----35.24----3344.76
10:59----37.15
11:01----39.43
11:03----41.11
11:07----38.53
11:10----41.26
11:14----43.93
11:15----44.98
11:17----45.00----3335.00
11:20----42.72
11:24----43.96
11:26----49.44
11:27----46.36
11:34----47.87
11:37----51.21
11:43----51.70
11:44----53.12
11:47----54.48
11:53----54.70
11:55----54.72
The market touches its day's low before slightly recovering at the end of the trading day.
11:57----55.05----3324.95
11:59----51.15
12:01----48.71----3331.29
Market Close.
All sectors were also down,
Property -2.39%
Holdings -2.33%
Services -1.49%
Industrial -0.50%
M-O -0.45%
Financial -0.36%
Decliners now swamped Gainers 98 to 42.
The peso moved in a range from PhP 48.249 to PhP 48.256 vs the $US in the morning trade.
The market support is now seen at the 3,300 - 3,320 level. Momentum is seen to carry over and have the PSEi test it as a base.
A sudden turnaround or a dead cat bounce still cannot be discounted as investors are just at the sidelines waiting for a chance to get in back the market.
Monday, February 26, 2007
The markets from three years ago - February 26, 2004
A comparison of select markets from three years ago to present levels.
The 2004 data was used for a lecture/talk back then.
Asian Indices
----------------------------Feb 26, 2004----------Feb 26, 2007 -----% change
Nikkei (Japan)-------------10,815.29 -----------18,215.35--------up 68.42%
HangSeng (HongKong)---13,674.64 -----------20,507.95-------up 49.97%
Sing STI (Singapore)-------1,885.65 -----------3,307.92
KLSE (Malaysia)------------882.42 -------------1,272.87
SET (Thailand) -------------690.97 -------------688.70
JCI (Indonesia) ------------774.863 -----------1,783.95----------up 130.22%
Phisix or PSEi (Phil)-------1,485.97 -----------3,380.00---------up 127.46%
KOSPI (S. Korea) -----------864.86-------------1,470.03
TWSE (Taiwan) -------------6,693.25-----------7,900.20
US Markets
DJIA (Dow Jones)---------10,580.14---------12,632.26--------up 19.35%
Nasdaq ---------------------2,022.98
S & P-------------------------1,143.67-----------1,449.37
Currencies vs the $US
Euro-------------------------1.246 --------------1.3189
Pound-----------------------1.867 --------------1.9636
Yen--------------------------109.2---------------120.71
HK$ -------------------------7.76----------------7.81
Sing $ ----------------------1.699 ---------------1.5281
Ringgit (malaysia) -------3.810 ---------------3.4905
Baht (thailand)------------39.23 ---------------34.03
Rupiah (indonesia)-------8,435----------------9,068
Won (s. korea)------------1,171 ----------------938.70
PhP-------------------------56.305 --------------48.25
NT $ ----------------------33.303----------------32.975
Others:
PLDT ADRs-------------$ 17.61 -------------$ 53.90
Gold($US/ounce) -----$ 394.80-----------$ 686.10
Reference: Bloomberg TV
The 2004 data was used for a lecture/talk back then.
Asian Indices
----------------------------Feb 26, 2004----------Feb 26, 2007 -----% change
Nikkei (Japan)-------------10,815.29 -----------18,215.35--------up 68.42%
HangSeng (HongKong)---13,674.64 -----------20,507.95-------up 49.97%
Sing STI (Singapore)-------1,885.65 -----------3,307.92
KLSE (Malaysia)------------882.42 -------------1,272.87
SET (Thailand) -------------690.97 -------------688.70
JCI (Indonesia) ------------774.863 -----------1,783.95----------up 130.22%
Phisix or PSEi (Phil)-------1,485.97 -----------3,380.00---------up 127.46%
KOSPI (S. Korea) -----------864.86-------------1,470.03
TWSE (Taiwan) -------------6,693.25-----------7,900.20
US Markets
DJIA (Dow Jones)---------10,580.14---------12,632.26--------up 19.35%
Nasdaq ---------------------2,022.98
S & P-------------------------1,143.67-----------1,449.37
Currencies vs the $US
Euro-------------------------1.246 --------------1.3189
Pound-----------------------1.867 --------------1.9636
Yen--------------------------109.2---------------120.71
HK$ -------------------------7.76----------------7.81
Sing $ ----------------------1.699 ---------------1.5281
Ringgit (malaysia) -------3.810 ---------------3.4905
Baht (thailand)------------39.23 ---------------34.03
Rupiah (indonesia)-------8,435----------------9,068
Won (s. korea)------------1,171 ----------------938.70
PhP-------------------------56.305 --------------48.25
NT $ ----------------------33.303----------------32.975
Others:
PLDT ADRs-------------$ 17.61 -------------$ 53.90
Gold($US/ounce) -----$ 394.80-----------$ 686.10
Reference: Bloomberg TV
The days' market - February 26, 2007
The market moved in a narrow range just below the 3,400 level.
PSEi previous close (February 23, 2007) 3389.37
The market tried to mount a rally towards the 3,400 level upon opening. The peso was also firmer.
Time------------up/down-----------PSEi
9:31-------------up 5.47--------------3394.84
9:37---------------------PhP 48.095 to $ 1.00
9:41-------------up 1.06
The uptick was shortlived however as the market became uncertain where to go.
9:44-------------down 0.88
10:03-----------down 4.37
10:15------------down 0.83
10:20--------------------PhP 48.105
10:28-----------down 5.45
10:36-----------down 11.09
The market touches bottom.
10:38-----------down 7.87
10:43-----------down 5.85
10:44-----------down 4.29
11:01------------down 2.77
11:02------------down 0.71
The market tries to gain some ground.
11:03-------------up 0.14
11:06-------------down 0.55
11:07-------------up 0.45
11:17-------------down 0.70
11:24-------------down 3.08
11:30-----------------PhP 48.147 to $ 1.00
11:33--------------up 0.46
11:37--------------up 1.21
The market however weakens once again.
11:43--------------down 2.24
11:51--------------down 3.09
11:54------------------PhP 48.151 to $ 1.00
11:57--------------down 4.85
11:58--------------down 7.88
12:01--------------down 9.37------3380.00
Market Close.
The market closed near its low and it seems that the consolidation and correction may persist. But if the 3380 level holds and investors see it as a base, the attempt to break the 3,400 level and the 3,447 all time high may come sooner than expected.
Advancers still outnumbered decliners 77 to 58 even as the PSEi was down. The secondliners and small cap stocks enjoyed brisk trading. Value turnover was more than PhP 6 billion.
Sectoral Indices were mixed.
M-O +2.78%
Property +0.34%
Industrial -0.63%
Financial -0.49%
Holdings -0.45%
Services -0.35%
Data Reference: Maktrade System / Technistock Corp.
****The EDSA Anniversary passed by without any political incident.
PSEi previous close (February 23, 2007) 3389.37
The market tried to mount a rally towards the 3,400 level upon opening. The peso was also firmer.
Time------------up/down-----------PSEi
9:31-------------up 5.47--------------3394.84
9:37---------------------PhP 48.095 to $ 1.00
9:41-------------up 1.06
The uptick was shortlived however as the market became uncertain where to go.
9:44-------------down 0.88
10:03-----------down 4.37
10:15------------down 0.83
10:20--------------------PhP 48.105
10:28-----------down 5.45
10:36-----------down 11.09
The market touches bottom.
10:38-----------down 7.87
10:43-----------down 5.85
10:44-----------down 4.29
11:01------------down 2.77
11:02------------down 0.71
The market tries to gain some ground.
11:03-------------up 0.14
11:06-------------down 0.55
11:07-------------up 0.45
11:17-------------down 0.70
11:24-------------down 3.08
11:30-----------------PhP 48.147 to $ 1.00
11:33--------------up 0.46
11:37--------------up 1.21
The market however weakens once again.
11:43--------------down 2.24
11:51--------------down 3.09
11:54------------------PhP 48.151 to $ 1.00
11:57--------------down 4.85
11:58--------------down 7.88
12:01--------------down 9.37------3380.00
Market Close.
The market closed near its low and it seems that the consolidation and correction may persist. But if the 3380 level holds and investors see it as a base, the attempt to break the 3,400 level and the 3,447 all time high may come sooner than expected.
Advancers still outnumbered decliners 77 to 58 even as the PSEi was down. The secondliners and small cap stocks enjoyed brisk trading. Value turnover was more than PhP 6 billion.
Sectoral Indices were mixed.
M-O +2.78%
Property +0.34%
Industrial -0.63%
Financial -0.49%
Holdings -0.45%
Services -0.35%
Data Reference: Maktrade System / Technistock Corp.
****The EDSA Anniversary passed by without any political incident.
Philippine Star Article - February 26,2007
Quote from an interview regarding market outlook after Friday's trading. From the Philippine Star February 26, 2007.
Sunday, February 25, 2007
Stock Market Dreams
In the stock market, dreams can be made and dreams can be broken. The nature of investing in the stock market makes it possible for an investor to make his dreams come true as gains can be truly rewarding; but at the same time, it can break a man.
The stock market is a feast and famine industry. One day you are on top of the world, and in the next, you are down in the dumps. It is always important to keep in mind in investing the RISK-REWARD Trade-off. High Risks gives you an opportunity to get High Returns. Can you and will you take tht risk?
Last night (saturday), i had a dream about the stock market. Literally, i dreamt about the stock market. Are dreams a way of expressing your hopes? Are dreams a subconscious expression of your concerns? of past experiences? of current situations? Or are dreams a view to the future? of tomorrow's events? Or are they just simply electromagnetic brain activity that does not have significance on events.I DON'T KNOW. Let's see in tomorrow's (monday) trading.
But in my dream,the market broke above the 3,400 level but failed to hurdle the all time high at 3,447. I think the market closed higher by 30 to 40 points or somewhere at the 3,223 level. Now, if i could just remember more details and what stock to buy.
The stock market is a feast and famine industry. One day you are on top of the world, and in the next, you are down in the dumps. It is always important to keep in mind in investing the RISK-REWARD Trade-off. High Risks gives you an opportunity to get High Returns. Can you and will you take tht risk?
Last night (saturday), i had a dream about the stock market. Literally, i dreamt about the stock market. Are dreams a way of expressing your hopes? Are dreams a subconscious expression of your concerns? of past experiences? of current situations? Or are dreams a view to the future? of tomorrow's events? Or are they just simply electromagnetic brain activity that does not have significance on events.I DON'T KNOW. Let's see in tomorrow's (monday) trading.
But in my dream,the market broke above the 3,400 level but failed to hurdle the all time high at 3,447. I think the market closed higher by 30 to 40 points or somewhere at the 3,223 level. Now, if i could just remember more details and what stock to buy.
Saturday, February 24, 2007
Philippine Daily Inquirer (PDI) Article - February 24,2007
"(Thursday's) correction was viewed by some investors as enough for the market to continue its uptrend. But obviously there's strong resistance at the 3,400 level".....
Quote from an interview regarding the market performance on Friday (February 23)
From the Philippine Daily Inquirer, Business Pages, dated February 24, 2007
Quote from an interview regarding the market performance on Friday (February 23)
From the Philippine Daily Inquirer, Business Pages, dated February 24, 2007
Friday, February 23, 2007
The days' market - February 23, 2007
Another day of a sudden reversal. The market was now up upon the opening bell. It seems that a survey showing that more Filipinos are optimistic this year than last year is proving to be right. The all time high level of 3,447.60 is a tempting target that is too good to ignore.
PSEi previous close: 3365.53 (February 22, 2007)
time-----------------up--------------PSEi
9:31----------------7.14
9:40----------------5.82
9:46----------------11.44
9:47----------------15.90
9:49----------------16.12
9:56----------------19.38
10:00---------------21++
10:07---------------25.16
10:21---------------29.73
10:24---------------26.21
10:27---------------31.96
The market attempted to breach the 3,400 resistance level
10:42---------------33.98-------------3399.51
10:59---------------27.38
11:12---------------34.14-------------3399.67
The 3,400 resistance proves to be a strong resistance (at least for today) and the market retreats to try to build a base.
11:25---------------31.71
11:39---------------31.24
11:42---------------22.66
11:44---------------26.19
11:50---------------25.34
12:01---------------23.84-------------3389.37
Market Close.
The market close was its highest since Feb 5, 1997. (The all time high level of 3,447.60 was set on Feb. 3, 1997 - more than 10 years ago.
Even if the market needs to correct and some investors are profit taking, the lure of establishing a record high continues; and the market may not be able to resist to make an attempt and break it soon.
All sectoral indices were up.
M-O +6.48%
Holdings +1.30%
Services +0.64%
Industrial +0.63%
Financial +0.63%
Property +0.07%
Advancers swamped decliners 97 to 35.
The market was up by 1.67% for the week
PSEi previous close: 3365.53 (February 22, 2007)
time-----------------up--------------PSEi
9:31----------------7.14
9:40----------------5.82
9:46----------------11.44
9:47----------------15.90
9:49----------------16.12
9:56----------------19.38
10:00---------------21++
10:07---------------25.16
10:21---------------29.73
10:24---------------26.21
10:27---------------31.96
The market attempted to breach the 3,400 resistance level
10:42---------------33.98-------------3399.51
10:59---------------27.38
11:12---------------34.14-------------3399.67
The 3,400 resistance proves to be a strong resistance (at least for today) and the market retreats to try to build a base.
11:25---------------31.71
11:39---------------31.24
11:42---------------22.66
11:44---------------26.19
11:50---------------25.34
12:01---------------23.84-------------3389.37
Market Close.
The market close was its highest since Feb 5, 1997. (The all time high level of 3,447.60 was set on Feb. 3, 1997 - more than 10 years ago.
Even if the market needs to correct and some investors are profit taking, the lure of establishing a record high continues; and the market may not be able to resist to make an attempt and break it soon.
All sectoral indices were up.
M-O +6.48%
Holdings +1.30%
Services +0.64%
Industrial +0.63%
Financial +0.63%
Property +0.07%
Advancers swamped decliners 97 to 35.
The market was up by 1.67% for the week
BusinessWorld Article- February 23, 2007
Part of an interview after Thursday's (feb 22) trading. BusinessWorld February 23, 2007
Thursday, February 22, 2007
The day's market - February 22, 2007
The market was down from the opening bell. It continued its downtrend which started at the latter part of yesterday's trading after hitting the resistance levels at 3400 -3420. The weaker peso also somehow toned down the sentiment
PSEi Previous close 3378.92 (February 21, 2007)
time----------------down--------------------PSEi
9:30-----------------9.86-------------------3369.06
9:35-----------------11.31
9:35------------------------PhP 48.226 to $ 1.00
9:48-----------------12.07
9:56-----------------14.09
9:59-----------------15.98
10:07----------------11.44
10:10----------------13.29
10:11----------------14.29
10:13----------------15.58
10:13----------------------PhP 48.228 to $1.00
10:17----------------17.34
10:22----------------13.26
10:31----------------17.08
10:48----------------18.80
10:50----------------19.87
10:50----------------------PhP 48.242 to $ 1.00
10:54-----------------20.53
11:04-----------------23.39
11:12-----------------19.69
11:16-----------------23.74----------------3355.18
The market seems to be holding at upper range of the next support at 3320 -3350.
It moves in a narrow range in the next 20 minutes before bottoming out.
11:18-----------------19.84
11:24-----------------18.30
11:26-----------------21.34
11:27-----------------19.62
11:31-----------------17.83
11:32-----------------19.99
11:34-----------------20.28
11:37----------------------PhP 48.245 to $ 1.00
11:39-----------------25.59----------------3353.33
The market hits the day's bottom as bargain hunters stepped in to cut market losses.
11:47-----------------23.53
11:49-----------------21.84
11:58-----------------16.50
11:59-----------------12.34
12:01-----------------13.39---------------3365.53
Market Close.
Secoral Indices were mosly lower.
Holdings -1.29%
Financial -0.84%
Industrial -0.80%
Services - 0.07%
Property +1.08%
M-O +4.24%
Valuue turnover was lower at PhP 4.129 billion
Gainers however edged out Decliners 63 to 62.
The Market is now on another corrective / consolidation phase. But the activity on the second and thirdliners provide trading opportunity and keeps investors in the market.
PSEi Previous close 3378.92 (February 21, 2007)
time----------------down--------------------PSEi
9:30-----------------9.86-------------------3369.06
9:35-----------------11.31
9:35------------------------PhP 48.226 to $ 1.00
9:48-----------------12.07
9:56-----------------14.09
9:59-----------------15.98
10:07----------------11.44
10:10----------------13.29
10:11----------------14.29
10:13----------------15.58
10:13----------------------PhP 48.228 to $1.00
10:17----------------17.34
10:22----------------13.26
10:31----------------17.08
10:48----------------18.80
10:50----------------19.87
10:50----------------------PhP 48.242 to $ 1.00
10:54-----------------20.53
11:04-----------------23.39
11:12-----------------19.69
11:16-----------------23.74----------------3355.18
The market seems to be holding at upper range of the next support at 3320 -3350.
It moves in a narrow range in the next 20 minutes before bottoming out.
11:18-----------------19.84
11:24-----------------18.30
11:26-----------------21.34
11:27-----------------19.62
11:31-----------------17.83
11:32-----------------19.99
11:34-----------------20.28
11:37----------------------PhP 48.245 to $ 1.00
11:39-----------------25.59----------------3353.33
The market hits the day's bottom as bargain hunters stepped in to cut market losses.
11:47-----------------23.53
11:49-----------------21.84
11:58-----------------16.50
11:59-----------------12.34
12:01-----------------13.39---------------3365.53
Market Close.
Secoral Indices were mosly lower.
Holdings -1.29%
Financial -0.84%
Industrial -0.80%
Services - 0.07%
Property +1.08%
M-O +4.24%
Valuue turnover was lower at PhP 4.129 billion
Gainers however edged out Decliners 63 to 62.
The Market is now on another corrective / consolidation phase. But the activity on the second and thirdliners provide trading opportunity and keeps investors in the market.
Article from Phil Star - February 22, 2007
Quote from part of an interview regarding the outlook for today's trading.
Published in the Philippine Star - B-2 (February 22, 2007)
Wednesday, February 21, 2007
The day's market - February 21,2007
PSEi previous close: 3375.31 (February 20, 2007)
The market opened strong and was pumped up to launch an assault on the 3,400 level on its march towards the all time high level at 3447.
time-------------points up ----------------PSEi
9:31am-------------up 7.53------------------3382.84
9:32----------------up 8.22------------------3383.53
9:37------------------------PhP 48.118 to $ 1.00
9:48----------------up 16.39-----------------3391.70
9:53----------------up 20.11-----------------3395.42
9:55----------------up 23.36-----------------3398.67
9:58----------------up 25.56-----------------3400.87
Within 30 minutes, the market was already testing the 3,400 level.
10:03--------------up 27.08------------------3402.39
10:10--------------up 22.48------------------3397.79
Another strong spurt and the market tries to break the 3,400 level convincingly
10:17---------------up 40.50----------------3415.25
10:37---------------up 37.88-----------------3412.79
10:30--------------------PhP 48.108 to $ 1.00
10:36---------------up 40.47-----------------3415.78
10:39---------------up 36.99-----------------3412.30
10:42---------------up 35.88-----------------3411.19
10:56---------------up 34.64-----------------3409.95
10:58-------------------PhP 48.111 to $ 1.00
11:02---------------up 40.85-----------------3416.16
11:03---------------up 41.77------------------3417.08
The market seems to have hit a resistance at the 3415-3420 level. The market now corrects as selling and profit taking in secondliners that have hit new highs sets in.
11:12---------------up 34.49------------------3409.80
11:13---------------up 30.64------------------3405.95
11:14---------------up 29.71-------------------3405.02
11:16---------------up 28.94-------------------3404.25
11:21---------------up 26.58-------------------3401.89
By now, selling has accelerated, and the market now falls below the 3400 index level. This prompts other investors to sell thereby .weighing the market down further.
11:29---------------up 24.09------------------3399.40
11:31---------------up 22.28------------------3397.59
11:38---------------up 19.08------------------3394.39
11:40------------------------Php 48.113 to $ 1.00
Market attempts to hurdle the 3400 level once again.
11:44---------------up 22.62------------------3397.93
11:46---------------up 25.60------------------3400.91
Last minute sellers again dumped on the market to cut the rally
11:49---------------up 19.35------------------3394.66
11:52---------------up 15.24------------------3390.55
11:53---------------up 12.49------------------3387.80
11:54---------------up 14.07------------------3389.38
11:57---------------up 10.39------------------3385.70
11:58---------------up 7.78-------------------3383.09
11:59---------------up 5.32-------------------3380.63
12:01---------------up 3.61-------------------3378.92
Market Close.
The market gave back most of the day's gains as momentum abruptly changed as it nears uncharted territories at the all time high level at 2447. This consolidation may persist.
Even sectoral indices were mixed.
M-O +1.13%
Industrial +0.98%
Services +0.34%
Holdings - 0.18%
Property - 0.12%
Financial - 0.03%
Gainers however still swamped decliners 87 to 43.
Value turnover was at PhP 5.939 billion
The sudden reversals has been observed during the past two weeks in day to day trading direction.
Trading has been generally in a wider band with an upward bias with the objective of testing the all time highs. A deep correction still cannot be discounted is welcome as the market is near overbought level.
The market opened strong and was pumped up to launch an assault on the 3,400 level on its march towards the all time high level at 3447.
time-------------points up ----------------PSEi
9:31am-------------up 7.53------------------3382.84
9:32----------------up 8.22------------------3383.53
9:37------------------------PhP 48.118 to $ 1.00
9:48----------------up 16.39-----------------3391.70
9:53----------------up 20.11-----------------3395.42
9:55----------------up 23.36-----------------3398.67
9:58----------------up 25.56-----------------3400.87
Within 30 minutes, the market was already testing the 3,400 level.
10:03--------------up 27.08------------------3402.39
10:10--------------up 22.48------------------3397.79
Another strong spurt and the market tries to break the 3,400 level convincingly
10:17---------------up 40.50----------------3415.25
10:37---------------up 37.88-----------------3412.79
10:30--------------------PhP 48.108 to $ 1.00
10:36---------------up 40.47-----------------3415.78
10:39---------------up 36.99-----------------3412.30
10:42---------------up 35.88-----------------3411.19
10:56---------------up 34.64-----------------3409.95
10:58-------------------PhP 48.111 to $ 1.00
11:02---------------up 40.85-----------------3416.16
11:03---------------up 41.77------------------3417.08
The market seems to have hit a resistance at the 3415-3420 level. The market now corrects as selling and profit taking in secondliners that have hit new highs sets in.
11:12---------------up 34.49------------------3409.80
11:13---------------up 30.64------------------3405.95
11:14---------------up 29.71-------------------3405.02
11:16---------------up 28.94-------------------3404.25
11:21---------------up 26.58-------------------3401.89
By now, selling has accelerated, and the market now falls below the 3400 index level. This prompts other investors to sell thereby .weighing the market down further.
11:29---------------up 24.09------------------3399.40
11:31---------------up 22.28------------------3397.59
11:38---------------up 19.08------------------3394.39
11:40------------------------Php 48.113 to $ 1.00
Market attempts to hurdle the 3400 level once again.
11:44---------------up 22.62------------------3397.93
11:46---------------up 25.60------------------3400.91
Last minute sellers again dumped on the market to cut the rally
11:49---------------up 19.35------------------3394.66
11:52---------------up 15.24------------------3390.55
11:53---------------up 12.49------------------3387.80
11:54---------------up 14.07------------------3389.38
11:57---------------up 10.39------------------3385.70
11:58---------------up 7.78-------------------3383.09
11:59---------------up 5.32-------------------3380.63
12:01---------------up 3.61-------------------3378.92
Market Close.
The market gave back most of the day's gains as momentum abruptly changed as it nears uncharted territories at the all time high level at 2447. This consolidation may persist.
Even sectoral indices were mixed.
M-O +1.13%
Industrial +0.98%
Services +0.34%
Holdings - 0.18%
Property - 0.12%
Financial - 0.03%
Gainers however still swamped decliners 87 to 43.
Value turnover was at PhP 5.939 billion
The sudden reversals has been observed during the past two weeks in day to day trading direction.
Trading has been generally in a wider band with an upward bias with the objective of testing the all time highs. A deep correction still cannot be discounted is welcome as the market is near overbought level.
Tuesday, February 20, 2007
The days' market - February 20, 2007
The market again suddenly spiked amidst a corrective phase when investors jumped into the equities bandwagon as interest rates fell to record lows. The peso also continues to strengthen and is currently testing the PhP 48.00 to the dollar level.
PSEi previous close 3329.03 (February 19, 2007)
time---------------up / down-----------------PSEi
9:31---------------up 18.16----------------3347.19
9:35---------------up 17.55----------------3346.58
9:36---------------up 14.08----------------3343.11
9:39---------------------PhP 48.078 to $ 1.00
9:50---------------up 19.45----------------3348.48
10:00--------------up 12.81----------------3341.84
The market was initially tentative with the strength of the opening and tried to retreat. But investors regained confidence as the strong rise in the secondliners buoyed up sentiment. The peso also continued to improve.
10:13--------------up 20.73----------------3349.76
10:21-------------------Php 48.067 to $ 1.00
10:25--------------up 27.21----------------3356.24
10:51--------------up 30.34----------------3359.37
11:07-------------------PhP 48.064 to $1.00
11:15--------------up 39.12-----------------3368.15
11:36--------------up 45.58-----------------3374.61
11:42--------------up 47.22-----------------3376.25
-------------------------PhP 48.064 to $ 1.00
12:01--------------up 46.28-----------------3375.31
Market Close.
The market ended near its high and within sight of the 3,400 level once again.
All sectors were again higher across-the-board.
Property +2.16%
Holdings +2.41%
Industrial +1.72%
Financial +0.87%
Services + 0.77%
M-O +0.74%
Gainers 107
Decliners 31
Value turnover PhP 4.14 billion
The day's top gainers
1)MAHB +50.00%
2)MAH +48.72%
3)ZHI +43.24%
For INDEX ISSUES
Top Gainers
1) BEL +8.45%
2) JGS +8.00%
3) BPC +6.02%
4) ABS +6.00%
Only Decliners
1) DMC - 1.35%
2) SECB -0.58%
PSEi previous close 3329.03 (February 19, 2007)
time---------------up / down-----------------PSEi
9:31---------------up 18.16----------------3347.19
9:35---------------up 17.55----------------3346.58
9:36---------------up 14.08----------------3343.11
9:39---------------------PhP 48.078 to $ 1.00
9:50---------------up 19.45----------------3348.48
10:00--------------up 12.81----------------3341.84
The market was initially tentative with the strength of the opening and tried to retreat. But investors regained confidence as the strong rise in the secondliners buoyed up sentiment. The peso also continued to improve.
10:13--------------up 20.73----------------3349.76
10:21-------------------Php 48.067 to $ 1.00
10:25--------------up 27.21----------------3356.24
10:51--------------up 30.34----------------3359.37
11:07-------------------PhP 48.064 to $1.00
11:15--------------up 39.12-----------------3368.15
11:36--------------up 45.58-----------------3374.61
11:42--------------up 47.22-----------------3376.25
-------------------------PhP 48.064 to $ 1.00
12:01--------------up 46.28-----------------3375.31
Market Close.
The market ended near its high and within sight of the 3,400 level once again.
All sectors were again higher across-the-board.
Property +2.16%
Holdings +2.41%
Industrial +1.72%
Financial +0.87%
Services + 0.77%
M-O +0.74%
Gainers 107
Decliners 31
Value turnover PhP 4.14 billion
The day's top gainers
1)MAHB +50.00%
2)MAH +48.72%
3)ZHI +43.24%
For INDEX ISSUES
Top Gainers
1) BEL +8.45%
2) JGS +8.00%
3) BPC +6.02%
4) ABS +6.00%
Only Decliners
1) DMC - 1.35%
2) SECB -0.58%
91-day T-bill fell to a record low below 3%
The benchmark T-bill drops to a record low at a regular auction yesterday.; to 2.885% from 3.008% at the auction last feb. 05.
The 182-day T-bill also fell to 3.395% from 3.473% and the 364-day T-bill was at 3.820% from 3.998%.
The government sold PhP 4.8 bn worth of bills, above the PhP 4 billion it offered. Brokers and other investors submitted a total of php 22.1 bn in bids.
Reference / Source: Philippine Star; Business Pages - February 20, 2007
The 182-day T-bill also fell to 3.395% from 3.473% and the 364-day T-bill was at 3.820% from 3.998%.
The government sold PhP 4.8 bn worth of bills, above the PhP 4 billion it offered. Brokers and other investors submitted a total of php 22.1 bn in bids.
Reference / Source: Philippine Star; Business Pages - February 20, 2007
Monday, February 19, 2007
The Lion, The Dragon and the Exchange
Marking the Chinese New Year in the Philippine Stock Exchange (PSE) Makati Trading Floor.
The stock market greets the Year of the Pig (2007)
The market tried to rally on the first day of trading in the New Lunar Year.
It opened strong and stayed on higher ground on the first half of trading but succumbed to some more selling pressure to continue its correction / consolidation from last Friday.
The day's market - February 19, 2007
PSEi Previous close 3333.56 (February 16, 2007 - friday)
----------------up / down------------PSEi
9:31------------up 18.54-------------3352.10
9:34------------up 23.14-------------3356.70
PLDT (TEL) opened at PhP 2640 but by 9:35, trade was at PhP2600 per share.
9:35------------up 7.90--------------3341.46
9:36------------up 13.88-------------3347.44
9:37----------------------PhP 48.076 to $ 1.00
9:50------------up 8.22--------------3341.78
10:05--------------------PhP 48.074 to $ 1.00
10:07-----------up 5.77--------------3339.33
The market tries to stage another run up.
10:24----------up 16.35--------------3349.91
10:25----------up 21.15--------------3354.71
The 3350 level seems to be the immediate resistance.
10:33----------up 13.85--------------3347.41
10:34---------------------PhP 48.076 to $1.00
10:40----------up 7.47---------------3341.03
10:43----------up 5.07---------------3338.63
The market now dips into negative territory.
10:58----------down 2.91-------------3330.65
11:01----------down 4.60-------------3328.96
11:07----------down 10.26------------3325.95
11:13----------down 12.78------------3320.78
11:27----------down 8.28-------------3325.28
11:33----------down 13.23------------3320.33
11:35----------down 15.00------------3318.56
11:50----------down 10.02------------3323.54
11:59----------down 8.83-------------3324.73
12:01----------down 4.53-------------3329.03
Market Close.
The day's top gainers:
1) BAL +49.40%
2) ATRK +25.81%
3) ASIA + 22.0%
The day's biggest losers:
1) GOB -7.69%
2) ICTV - 6.82%
3) OPMB -6.67%
The market was clearly uncertain as the sectoral indices ended mixed.
Industrial +0.80%
M-O +0.59%
Property +0.13%
Services -0.23%
Holdings -0.26%
Financial -0.71%
It opened strong and stayed on higher ground on the first half of trading but succumbed to some more selling pressure to continue its correction / consolidation from last Friday.
The day's market - February 19, 2007
PSEi Previous close 3333.56 (February 16, 2007 - friday)
----------------up / down------------PSEi
9:31------------up 18.54-------------3352.10
9:34------------up 23.14-------------3356.70
PLDT (TEL) opened at PhP 2640 but by 9:35, trade was at PhP2600 per share.
9:35------------up 7.90--------------3341.46
9:36------------up 13.88-------------3347.44
9:37----------------------PhP 48.076 to $ 1.00
9:50------------up 8.22--------------3341.78
10:05--------------------PhP 48.074 to $ 1.00
10:07-----------up 5.77--------------3339.33
The market tries to stage another run up.
10:24----------up 16.35--------------3349.91
10:25----------up 21.15--------------3354.71
The 3350 level seems to be the immediate resistance.
10:33----------up 13.85--------------3347.41
10:34---------------------PhP 48.076 to $1.00
10:40----------up 7.47---------------3341.03
10:43----------up 5.07---------------3338.63
The market now dips into negative territory.
10:58----------down 2.91-------------3330.65
11:01----------down 4.60-------------3328.96
11:07----------down 10.26------------3325.95
11:13----------down 12.78------------3320.78
11:27----------down 8.28-------------3325.28
11:33----------down 13.23------------3320.33
11:35----------down 15.00------------3318.56
11:50----------down 10.02------------3323.54
11:59----------down 8.83-------------3324.73
12:01----------down 4.53-------------3329.03
Market Close.
The day's top gainers:
1) BAL +49.40%
2) ATRK +25.81%
3) ASIA + 22.0%
The day's biggest losers:
1) GOB -7.69%
2) ICTV - 6.82%
3) OPMB -6.67%
The market was clearly uncertain as the sectoral indices ended mixed.
Industrial +0.80%
M-O +0.59%
Property +0.13%
Services -0.23%
Holdings -0.26%
Financial -0.71%
BusinessWorldArticle -February 19, 2007
A quote from part of an interview, regarding direction of trading.
BusinessWorld February 19, 2007
1st quarter 2007 Dividends
Just posted some of the dividends announced for the first quarter of 2007.
Check out the links or visit
http://rommelmacapagaloninvestmentbasics.blogspot.com
Check out the links or visit
http://rommelmacapagaloninvestmentbasics.blogspot.com
Saturday, February 17, 2007
Philippine Star Article - B-2 February 17,2007
" Stocks were really prone to profit taking after a gain of 4.5% in the past two sessions....."
A quote from an interview regarding the market's performance on Friday
A quote from an interview regarding the market's performance on Friday
Friday, February 16, 2007
The week that was. Feb 12 to 16
The Philippine Stock market for the period February 12 to 16 , 2007
-------------------------Last WK---------THIS WK.-------up/down-------CHNG
PSEi---------------------3,245.81-------3,333.56--------up87.75-------up2.70%
HOLDINGS-------------1,963.26------2,002.74--------up39.48-------up2.01%
INDUSTRIAL----------4,318.69------4,399.18---------up80.49-------up1.86%
PROPERTY-------------1,398.72------1,472.60--------up73.88------up5.28%
FINANCIAL-------------918.67-------966.21-----------up47.54------up5.17%
MINING-OIL----------4,642.60-------4,735.89-------up93.29-------up2.01%
ALL SHARES----------2,050.98-------2,108.87-------up57.89-------up2.82%
TOP GAINERS:
1. ZIP: PhP0.66; +120.00%
2. ASIA: PhP12.50; +52.44%
3. MHC: PhP0.59; +47.50%
WORST DECLINERS:
1. CAT: PhP2.80; -58.82%
2. SRDC: PhP1.32; -40.00%
3. AGI: PhP3.55; -37.72%
VALUE TURNOVER:
1. MBT: PhP2,062 mn (close: PhP67.50; +8.87%)
2. TEL: PhP1,931 mn (close: PhP2,595.00; +1.76%)
3. FLI: PhP1,499 mn (close: PhP 1.74; -4.40%)
TOP TEN INDEX ISSUE GAINERS FOR THE WEEK:
1. MEG: PhP3.20; +18.52%
2. EPCI: PhP115.00 + 17.95%
3. BDO: PhP64.50; +15.18%
4. BEL: PhP1.44; +12.50%
5. SECB: PhP87.00; 12.26%
6. BPC: PhP4.00; +9.59%
7. ICT: PhP27.00; +9.09%
8. JGS: PhP12.25; +8.89%
9. MBT: PhP67.50; +8.87%
10. HLCM: PhP8.40; +5.00%
Reference: Technistock Corp.
-------------------------Last WK---------THIS WK.-------up/down-------CHNG
PSEi---------------------3,245.81-------3,333.56--------up87.75-------up2.70%
HOLDINGS-------------1,963.26------2,002.74--------up39.48-------up2.01%
INDUSTRIAL----------4,318.69------4,399.18---------up80.49-------up1.86%
PROPERTY-------------1,398.72------1,472.60--------up73.88------up5.28%
FINANCIAL-------------918.67-------966.21-----------up47.54------up5.17%
MINING-OIL----------4,642.60-------4,735.89-------up93.29-------up2.01%
ALL SHARES----------2,050.98-------2,108.87-------up57.89-------up2.82%
TOP GAINERS:
1. ZIP: PhP0.66; +120.00%
2. ASIA: PhP12.50; +52.44%
3. MHC: PhP0.59; +47.50%
WORST DECLINERS:
1. CAT: PhP2.80; -58.82%
2. SRDC: PhP1.32; -40.00%
3. AGI: PhP3.55; -37.72%
VALUE TURNOVER:
1. MBT: PhP2,062 mn (close: PhP67.50; +8.87%)
2. TEL: PhP1,931 mn (close: PhP2,595.00; +1.76%)
3. FLI: PhP1,499 mn (close: PhP 1.74; -4.40%)
TOP TEN INDEX ISSUE GAINERS FOR THE WEEK:
1. MEG: PhP3.20; +18.52%
2. EPCI: PhP115.00 + 17.95%
3. BDO: PhP64.50; +15.18%
4. BEL: PhP1.44; +12.50%
5. SECB: PhP87.00; 12.26%
6. BPC: PhP4.00; +9.59%
7. ICT: PhP27.00; +9.09%
8. JGS: PhP12.25; +8.89%
9. MBT: PhP67.50; +8.87%
10. HLCM: PhP8.40; +5.00%
Reference: Technistock Corp.
RED was the color in the PSE before the Chinese New Year
The days market - February 16, 2007
The lions were not dancing with the bulls.
The performers for the lion dance to welcome the Chinese New Year were no-shows. They would probably be in the trading floor on Monday to perform their annual ritual dance.
The bullish momentum abruptly came to a halt as the market swung around as profit taking set in before the weekend.
PSEi previous close 3379.37 - (February 15, 2007)
------------------down-----------PSEi
9:31 am-----------2.38----------3376.99
10:00 -----------18.73----------3360.63
10:05------------24.76----------3354.61
10:10------------28.06----------3351.31------------PhP 48.169
10:17------------30.12----------3349.25
The market drop accelerates as it becomes evident that the market will not be rebounding within the day.
10:18------------33.19----------3346.18
10:20------------36.21----------3343.16
10:25------------42.78----------3336.59
10:28------------46.22----------3333.15
10:30------------47.60----------3331.77
10:40------------38.66----------3340.71
10:50------------41.53----------3337.84
10:51----------------------------------------------PhP 48.168
11:05------------40.17----------3339.20
11:18----------------------------------------------PhP 48.162
11:20------------45.38----------3333.99
11:35------------47.18----------3332.19
11:40------------50.25----------3329.12
11:49------------52.99----------3326.38
11:57------------49.12----------3330.25
12:01------------45.81----------3333.56
The market decline was now across-the-board. All sectors closed lower.
Holdings -2.10%
Property -1.50%
M-O -1.13%
Industrial -0.95%
Services -0.84%
Financial -0.72%
Days' top gainers ----------------------Days' biggest losers
ZIP +46.67% ------------------------------CHTR -21.05%
ZHI +46.15% ------------------------------AGI -11.25%
JPHB +29.87% -----------------------------AR -8.33%
Losers outnumbered gainers 71 to 52.
The correction was a much needed breather. As observed, it suddenly came about from the opening bell even if the previous days' performance showed otherwise and.
Investors took note of that the index hit overbought levels and needs to consolidate to sustain its bullish run.
Other Matters: (reference: BusinessMirror Feb 16-17)
OFWs remittances hit $ 12.76 bn; 19.6% higher the previous year, beating the 10% growth expectations. In december alone, $1.3 billion was sent back, the highest monthly remittance in 2006.
The California Public Employees Retirement System ( CalPERS) gave the Philippines the highest rate of improvement among 27 emerging markets in the CalPERS Permissible Markets.
From 14th place in 2006, CalPERS now ranks the Philippines 10th, ahead of Thailand, Indonesia, Malaysia, China, India and Russia
The lions were not dancing with the bulls.
The performers for the lion dance to welcome the Chinese New Year were no-shows. They would probably be in the trading floor on Monday to perform their annual ritual dance.
The bullish momentum abruptly came to a halt as the market swung around as profit taking set in before the weekend.
PSEi previous close 3379.37 - (February 15, 2007)
------------------down-----------PSEi
9:31 am-----------2.38----------3376.99
10:00 -----------18.73----------3360.63
10:05------------24.76----------3354.61
10:10------------28.06----------3351.31------------PhP 48.169
10:17------------30.12----------3349.25
The market drop accelerates as it becomes evident that the market will not be rebounding within the day.
10:18------------33.19----------3346.18
10:20------------36.21----------3343.16
10:25------------42.78----------3336.59
10:28------------46.22----------3333.15
10:30------------47.60----------3331.77
10:40------------38.66----------3340.71
10:50------------41.53----------3337.84
10:51----------------------------------------------PhP 48.168
11:05------------40.17----------3339.20
11:18----------------------------------------------PhP 48.162
11:20------------45.38----------3333.99
11:35------------47.18----------3332.19
11:40------------50.25----------3329.12
11:49------------52.99----------3326.38
11:57------------49.12----------3330.25
12:01------------45.81----------3333.56
The market decline was now across-the-board. All sectors closed lower.
Holdings -2.10%
Property -1.50%
M-O -1.13%
Industrial -0.95%
Services -0.84%
Financial -0.72%
Days' top gainers ----------------------Days' biggest losers
ZIP +46.67% ------------------------------CHTR -21.05%
ZHI +46.15% ------------------------------AGI -11.25%
JPHB +29.87% -----------------------------AR -8.33%
Losers outnumbered gainers 71 to 52.
The correction was a much needed breather. As observed, it suddenly came about from the opening bell even if the previous days' performance showed otherwise and.
Investors took note of that the index hit overbought levels and needs to consolidate to sustain its bullish run.
Other Matters: (reference: BusinessMirror Feb 16-17)
OFWs remittances hit $ 12.76 bn; 19.6% higher the previous year, beating the 10% growth expectations. In december alone, $1.3 billion was sent back, the highest monthly remittance in 2006.
The California Public Employees Retirement System ( CalPERS) gave the Philippines the highest rate of improvement among 27 emerging markets in the CalPERS Permissible Markets.
From 14th place in 2006, CalPERS now ranks the Philippines 10th, ahead of Thailand, Indonesia, Malaysia, China, India and Russia
Thursday, February 15, 2007
The BULL continues its rampage in the PSE - Feb 15 ,2007
The market continued its spectacular rise on back of strong buying momentum that has built up. It accelerated as the 3300 level was shattered.
It also took its cue from the US markets as the Dow Jones Industrial Average has risen almost 180 points the past two days.
Upon the opening bell, the market surged and never looked back
The day's market - February 15, 2007
PSEi previous close : 3300.94 (February 14, 2007)
time-------------up / down-------------PSEi
9:31-------------up 30.70------------3331.67
9:35----------------------------------------PhP 48.260 to $ 1
9:55-------------up 43.04------------3348.48
9:58-------------up 51.91------------3352.85
10:00------------up 55.54------------3356.48
10:02---------------------------------------PhP 48.262 to $ 1
10:10------------up 58.06------------3359.00
10:30------------up 61.46------------3362.40
10:35---------------------------------------PhP 48.269 to $ 1
10:48------------up 62.85------------3363.79
10:55------------up 64.93------------3365.87
11:01---------------------------------------PhP 48.278 to $ 1
11:05------------up 68.88------------3369.82
11:11------------up 72.75------------3373.69
11:15------------up 65.67------------3366.61
11:32------------up 68.55------------369.49
11:34------------up 72.95------------3373.89
11:39---------------------------------------PhP 48.283 to $ 1
11:48 -----------up 71.83------------3372.77
11:55------------up 69.73------------3370.67
11:57------------up 71.44------------3372.38
12:01------------up 78.43------------3379.37
Market close.
The market again was up across-the-board. All sectoral indices closed higher.
Property sector - up 4.24%
Financial sector - up 3.02%
Holdings sector - up 2.50%
Services sector - up 2.11%
Mining - Oil (M-O) sector - up1.10%
Industrial sector - up 0.84%
Gainers once again swamped decliners 107 to 24. Value turnover was at PhP 5.7 billion
To illustrate how the market has gone up, here are today's closing prices of several blue chip issues that were tracked just a couple of days ago.
TEL PhP 2620
AC PhP 660
ALI PhP 17.25
BPI PhP 71
GLO PhP 1385
MERB PhP 79.50
They were at the forefront of the surge of the past two days.
With regards to the secondliners that were also tracked, here is their closing prices so their performance can also be reviewed.
MAC PhP2.65 (intraday high of pHp 2.90)
ABA PhP 0.013
ABAB PhP 0.014
BEL PhP 1.50
The market closed at a new 10-year high. It is now at striking distance of its all time high level at around 3447. It is seen to make an attempt to test that level.
The market has gone up almost 200 points from its low within the past few days (more than 130 points in the past 2 days alone). Brely a month and a half into 2007, the PSEi is already up around 13%.
While momentum and euphoria is seen to carry the market higher, bouts of profit taking are more possible now and even needed. A solid support must be formed in order for the market to sustain its upward trek.
Tomorrow, the Chinese New Year will be marked by a Lion Dance at both bourses in the PSE.
It also took its cue from the US markets as the Dow Jones Industrial Average has risen almost 180 points the past two days.
Upon the opening bell, the market surged and never looked back
The day's market - February 15, 2007
PSEi previous close : 3300.94 (February 14, 2007)
time-------------up / down-------------PSEi
9:31-------------up 30.70------------3331.67
9:35----------------------------------------PhP 48.260 to $ 1
9:55-------------up 43.04------------3348.48
9:58-------------up 51.91------------3352.85
10:00------------up 55.54------------3356.48
10:02---------------------------------------PhP 48.262 to $ 1
10:10------------up 58.06------------3359.00
10:30------------up 61.46------------3362.40
10:35---------------------------------------PhP 48.269 to $ 1
10:48------------up 62.85------------3363.79
10:55------------up 64.93------------3365.87
11:01---------------------------------------PhP 48.278 to $ 1
11:05------------up 68.88------------3369.82
11:11------------up 72.75------------3373.69
11:15------------up 65.67------------3366.61
11:32------------up 68.55------------369.49
11:34------------up 72.95------------3373.89
11:39---------------------------------------PhP 48.283 to $ 1
11:48 -----------up 71.83------------3372.77
11:55------------up 69.73------------3370.67
11:57------------up 71.44------------3372.38
12:01------------up 78.43------------3379.37
Market close.
The market again was up across-the-board. All sectoral indices closed higher.
Property sector - up 4.24%
Financial sector - up 3.02%
Holdings sector - up 2.50%
Services sector - up 2.11%
Mining - Oil (M-O) sector - up1.10%
Industrial sector - up 0.84%
Gainers once again swamped decliners 107 to 24. Value turnover was at PhP 5.7 billion
To illustrate how the market has gone up, here are today's closing prices of several blue chip issues that were tracked just a couple of days ago.
TEL PhP 2620
AC PhP 660
ALI PhP 17.25
BPI PhP 71
GLO PhP 1385
MERB PhP 79.50
They were at the forefront of the surge of the past two days.
With regards to the secondliners that were also tracked, here is their closing prices so their performance can also be reviewed.
MAC PhP2.65 (intraday high of pHp 2.90)
ABA PhP 0.013
ABAB PhP 0.014
BEL PhP 1.50
The market closed at a new 10-year high. It is now at striking distance of its all time high level at around 3447. It is seen to make an attempt to test that level.
The market has gone up almost 200 points from its low within the past few days (more than 130 points in the past 2 days alone). Brely a month and a half into 2007, the PSEi is already up around 13%.
While momentum and euphoria is seen to carry the market higher, bouts of profit taking are more possible now and even needed. A solid support must be formed in order for the market to sustain its upward trek.
Tomorrow, the Chinese New Year will be marked by a Lion Dance at both bourses in the PSE.
Wednesday, February 14, 2007
RED is not the color in the PSE on Valentine's Day
The day's market - February 14, 2007
The Philippine stock market resumed its bullish ways after the 2,200 support level held in the previous days' correction and consolidation.
The PSEi zoomed up by 67.03 (+2.07%) to end at 3300.94. It is a new 10 year-high close.
Buying was across-the-board as all sectors were up. The rise was led by the Property (+3.12%), Services (+2.70%) and Financial (+2.15%) sectors.
Trading was brisk as buyers went back into the market in a big way and pushed prices higher. Total volume traded reached PhP 5 billion.
Gainers swamped losers 83 to 48.
The rise in the market was broad based and not confined to the blue chip and index issues. Punters were active in the market as the smaller cap issues also continued its rise from yesterday.
Yesterday's secondliners that were tracked also continued to rise. The closing prices today were: MAC PhP 2.75 (from PhP 2.32 previously), ABA PhP 0.013, ABAB PhP 0.014 and BEL PhP 1.50 (after reaching a days' high of PhP 1.62).
Momentum is seen to carry the market to higher grounds as it breaks through the 3,300 level. But at current levels, it may be prone to sudden bouts of profit taking esp on stocks that are at overbought levels.
The Philippine stock market resumed its bullish ways after the 2,200 support level held in the previous days' correction and consolidation.
The PSEi zoomed up by 67.03 (+2.07%) to end at 3300.94. It is a new 10 year-high close.
Buying was across-the-board as all sectors were up. The rise was led by the Property (+3.12%), Services (+2.70%) and Financial (+2.15%) sectors.
Trading was brisk as buyers went back into the market in a big way and pushed prices higher. Total volume traded reached PhP 5 billion.
Gainers swamped losers 83 to 48.
The rise in the market was broad based and not confined to the blue chip and index issues. Punters were active in the market as the smaller cap issues also continued its rise from yesterday.
Yesterday's secondliners that were tracked also continued to rise. The closing prices today were: MAC PhP 2.75 (from PhP 2.32 previously), ABA PhP 0.013, ABAB PhP 0.014 and BEL PhP 1.50 (after reaching a days' high of PhP 1.62).
Momentum is seen to carry the market to higher grounds as it breaks through the 3,300 level. But at current levels, it may be prone to sudden bouts of profit taking esp on stocks that are at overbought levels.
BusinessWorld Article- February 14, 2007
A quote from part of an interview regarding the lack of movement in the PSEi the previous day.
Feb 18 is the Chinese New Year and the Campaign period has just started for the May 2007 elections
Tuesday, February 13, 2007
Stock Movement on Corporate news - February 13 ,2007 (PM)
The day's market - Februay 13, 2007
The stocks that were tracked for their price movement were the ones that came out with news in the newspapers this morning.
time------------PSEi-------AC------ALI------GLO---BPI----ABA/ABAB----MAC----BEL
previous--------3243.16----625---16.25---1355---70----0.01/0.012-----2.16----1.30
open up7.47----3241.60----630----16.50---------70----0.012/0.013----2.22---1.36
9:36 up2.89----3237.05-----625----16.50--1360--69.5---0.012/0.014--2.24---1.40
9:43 dn1.77----3232.39-----625----16.50--1360--69.5---0.012/0.013--2.28---1.38
9:56 dn3.13----3231.03-----625----16.50--1360--69.5---0.012/0.013---2.28--1.38
10:02 dn5.26---3228.90-----625----16.50--1375--69.5--0.012/0.013---2.26--1.38
10:38 dn6.66---3227.50----625-----16.50---1375--69.5--0.012/0.013---2.32---1.42
11:22 dn2.92---3231.24-----620----16.50---1375--69.5--0.012/0.013---2.32---1.42
11:41dn 5.21---3228.95-----620----16.50----1375--69.5--0.012/0.013---2.30--1.46
11:50dn2.52---3231.64-----615-----16.50---1375---69---0.012/0.013---2.30---1.46
12:00dn0.25---3233.91----620----16.50---1380---69.5--0.012/0.013---2.32---1.48
Market close.
The market just consolidated and moved within a narrower range after the big swings the previous trading days. The index even closed almost unchanged.
Immediate support and resistance is at 3,200 - 3,250.
The secondliners and smaller cap stocks were the issues actively traded for the day. Even with the market flat, gainers outnumbered decliners 71 to 48.
As also seen from the stocks tracked today, it is the secondliners who were seen reacting positively to news reports. (ABA 0.01 to 0.012 / ABA 0.012 to0.013; MAC 2.16 to 2.32 and BEL 1.30 to 1.48).
The stocks that were tracked for their price movement were the ones that came out with news in the newspapers this morning.
time------------PSEi-------AC------ALI------GLO---BPI----ABA/ABAB----MAC----BEL
previous--------3243.16----625---16.25---1355---70----0.01/0.012-----2.16----1.30
open up7.47----3241.60----630----16.50---------70----0.012/0.013----2.22---1.36
9:36 up2.89----3237.05-----625----16.50--1360--69.5---0.012/0.014--2.24---1.40
9:43 dn1.77----3232.39-----625----16.50--1360--69.5---0.012/0.013--2.28---1.38
9:56 dn3.13----3231.03-----625----16.50--1360--69.5---0.012/0.013---2.28--1.38
10:02 dn5.26---3228.90-----625----16.50--1375--69.5--0.012/0.013---2.26--1.38
10:38 dn6.66---3227.50----625-----16.50---1375--69.5--0.012/0.013---2.32---1.42
11:22 dn2.92---3231.24-----620----16.50---1375--69.5--0.012/0.013---2.32---1.42
11:41dn 5.21---3228.95-----620----16.50----1375--69.5--0.012/0.013---2.30--1.46
11:50dn2.52---3231.64-----615-----16.50---1375---69---0.012/0.013---2.30---1.46
12:00dn0.25---3233.91----620----16.50---1380---69.5--0.012/0.013---2.32---1.48
Market close.
The market just consolidated and moved within a narrower range after the big swings the previous trading days. The index even closed almost unchanged.
Immediate support and resistance is at 3,200 - 3,250.
The secondliners and smaller cap stocks were the issues actively traded for the day. Even with the market flat, gainers outnumbered decliners 71 to 48.
As also seen from the stocks tracked today, it is the secondliners who were seen reacting positively to news reports. (ABA 0.01 to 0.012 / ABA 0.012 to0.013; MAC 2.16 to 2.32 and BEL 1.30 to 1.48).
Corporate news - February 13, 2007 (AM)
Ayala Corporation
Ayala Corporation (AC) earnings up 49%. In its unaudited consolidated net income for 2006 rose from the PhpP 8.2 billion in 2005 to a record PhP 12.2 billion in 2006, due to growth of its operating units, lower interes expense and gains from asset sales.
Last trading price: PhP 625.00
Subsidiaries:
Ayala Land Inc. (ALI) consolidated profits up PhP 3.9 billion in 2006 up 7% from last year. Consolidated revenues up 20%.
Last trading price: PhP 16.25
Bank of the Philippine Islands (BPI) net income of PhP 9 billion, 8% higher than 2005's level. Revenues grew by 9%.
Last trading price: PhP 70.00
Globe Telecom (GLO) consilidated net income of about PhP 12 billion, 14% higher than the previous year. (Wireless subscriber base grew 26% and reached 15.7 billion at year end.
Last trading price: PhP 1,355.00
Abacus Consolidated Resources & Holdings Inc . (ABA)
In a statement, Abacus Consolidated Resources & Holdings Inc., said that its 96.4% owned unit, Philippine Regional Investment Development Corp., has signed a MOA with Solar Resources Inc. ( a unit of of broadcast and cable television company Solar Entertainment Corp.) to develop a 120-hectare property in Batangas, into a high-end residential complex.
The Abacus unit will contribute the land, while Solar Resources will provide facilities.
Construction and development is expected within four years from commencement.
Last trading price: ABA PhP 0.01 / ABAB PhP 0.012
reference / source: Manila Bulletin Business Pages; February 13, 2007
MacroAsia ( MAC)
Jinchuan Group Ltd the largest producer of nickel and cobalt in China is conducting due diligence in MacroAia's mine site in Brooke's Point Palawan.
Last year, MacroAsia disclosed it secured a Mineral Production Sharing Agreement (MPSA) from the Mines and Geosciences Bureau for mining operations in the 1,113.98 ha. of land in Brooke's point in Palawan
Last trading price: PhP 2.16
Belle Corporation (BEL)
Lottery systems supplier Pacific Online Systems Corp. ( a unit of Belle Corp.) has filed registration documents with the SEC.
The Company is set to offer 340 mn woth of shares through an IPO next month at a range of PhP 8.50 - PhP 9.30. Total number of shares to be offered is 39.8 million.
The company, 43% owned by Belle Corp., 37% owned by Abacus Global Technovisions Inc. and 20% owned by Tanjong Public Ltd. Co, a Malaysian holding firm, will be listed in the first board of the Philippine Stock Exchange.
Last trading price: PhP 1.30
reference / source: BusinessWorld, Corporate News Pages; February 13, 2007 (Tuesday)
With the news that came out in the morning dailies/ papers, we will try to see if the news that came out today will affect trading and stock prices.
Investors may buy into the stocks on a knee jerk reaction. In a bullish market where the short term trading has been on a roller coaster ride with a wide trading band, corporate news may provide direction. If the news has already been factored in, (especially in stocks which has already experienced a run up before today), a sell on news strategy may be adapted by some investors to take profit.
Start of Campaign period
Today marks the official start of another political exercise. It would be noteworthy to track of the events leading to the coming elections (and beyond) and track stock market movements in relation to them.
Last year, we wrote a paper taking note of events in the 2nd and 3rd quarter of 2005 (Jueteng gate, Garci tapes, Hyatt 10, E-VAT) and tracked the stock market movement for the same period. By January 2006, the market was testing the 2176 level which was then a year high. We will try to see if we can post it in our blog.
Ayala Corporation (AC) earnings up 49%. In its unaudited consolidated net income for 2006 rose from the PhpP 8.2 billion in 2005 to a record PhP 12.2 billion in 2006, due to growth of its operating units, lower interes expense and gains from asset sales.
Last trading price: PhP 625.00
Subsidiaries:
Ayala Land Inc. (ALI) consolidated profits up PhP 3.9 billion in 2006 up 7% from last year. Consolidated revenues up 20%.
Last trading price: PhP 16.25
Bank of the Philippine Islands (BPI) net income of PhP 9 billion, 8% higher than 2005's level. Revenues grew by 9%.
Last trading price: PhP 70.00
Globe Telecom (GLO) consilidated net income of about PhP 12 billion, 14% higher than the previous year. (Wireless subscriber base grew 26% and reached 15.7 billion at year end.
Last trading price: PhP 1,355.00
Abacus Consolidated Resources & Holdings Inc . (ABA)
In a statement, Abacus Consolidated Resources & Holdings Inc., said that its 96.4% owned unit, Philippine Regional Investment Development Corp., has signed a MOA with Solar Resources Inc. ( a unit of of broadcast and cable television company Solar Entertainment Corp.) to develop a 120-hectare property in Batangas, into a high-end residential complex.
The Abacus unit will contribute the land, while Solar Resources will provide facilities.
Construction and development is expected within four years from commencement.
Last trading price: ABA PhP 0.01 / ABAB PhP 0.012
reference / source: Manila Bulletin Business Pages; February 13, 2007
MacroAsia ( MAC)
Jinchuan Group Ltd the largest producer of nickel and cobalt in China is conducting due diligence in MacroAia's mine site in Brooke's Point Palawan.
Last year, MacroAsia disclosed it secured a Mineral Production Sharing Agreement (MPSA) from the Mines and Geosciences Bureau for mining operations in the 1,113.98 ha. of land in Brooke's point in Palawan
Last trading price: PhP 2.16
Belle Corporation (BEL)
Lottery systems supplier Pacific Online Systems Corp. ( a unit of Belle Corp.) has filed registration documents with the SEC.
The Company is set to offer 340 mn woth of shares through an IPO next month at a range of PhP 8.50 - PhP 9.30. Total number of shares to be offered is 39.8 million.
The company, 43% owned by Belle Corp., 37% owned by Abacus Global Technovisions Inc. and 20% owned by Tanjong Public Ltd. Co, a Malaysian holding firm, will be listed in the first board of the Philippine Stock Exchange.
Last trading price: PhP 1.30
reference / source: BusinessWorld, Corporate News Pages; February 13, 2007 (Tuesday)
With the news that came out in the morning dailies/ papers, we will try to see if the news that came out today will affect trading and stock prices.
Investors may buy into the stocks on a knee jerk reaction. In a bullish market where the short term trading has been on a roller coaster ride with a wide trading band, corporate news may provide direction. If the news has already been factored in, (especially in stocks which has already experienced a run up before today), a sell on news strategy may be adapted by some investors to take profit.
Start of Campaign period
Today marks the official start of another political exercise. It would be noteworthy to track of the events leading to the coming elections (and beyond) and track stock market movements in relation to them.
Last year, we wrote a paper taking note of events in the 2nd and 3rd quarter of 2005 (Jueteng gate, Garci tapes, Hyatt 10, E-VAT) and tracked the stock market movement for the same period. By January 2006, the market was testing the 2176 level which was then a year high. We will try to see if we can post it in our blog.
Monday, February 12, 2007
Blue chips and the PSEi
Philippine Long Distance Corporation or PLDT (trading symbol TEL) closed at PhP 2550/ share on Friday (Feb 09, 2007) at the PSE.
With the PLDT ADRs trading at only PhP 2475 in the US markets; it was seen that at the last trade that PLDT was overpriced and soon enough fell to close the gap.
For the purpose of illustrating the movement of the Philippine Stock Exhange Index (PSEi) against blue chip issues, aside from PLDT; the price movement of Ayala Corporation (AC) and Meralco B shares (MERB) were monitored during the trading day.
----------------------------PSEi--------TEL (PLDT)-----AC-------MERB
Feb 09 (friday) --------3245.81------2550-----------635---------75.50
9:31 am---down 2.29----3243.52--------2550------------635---------75.00
9:35------down 4.53----3241.28--------2550------------630---------74.50
9:43------down 18.87---3226.94--------2525------------615---------74.00
9:47------down 21.22---3224.59--------2495------------615---------74.00
9:48------down 29.55---3216.26--------2495------------615---------73.50
With PLDT being weighed heavily in the index, the PSEi is obviously influenced by its trading price and movement in other index heavyweights.
9:50------down 36.22---3209.59--------2480------------615---------73.50
9:52------down 32.58---3213.23--------2495------------615---------73.50
Momentum now carried the market lower as selling spread across the market.
PLDT, AC and MERB has hit the days' bottom.
9:54-----down 37.85---3207.96--------2495-------------615--------73.50
9:57-----down 39.57---3206.24--------2495-------------615--------73.50
10:02----down 40.62---3205.19--------2495-------------615--------73.50
As the market neared the 3,200 support, bargain hunting once again became evident. The rally is led also by the blue chip issues
10:11----down 36.42---3209.39-------2500--------------620--------74.00
10:13----down 35.12---3210.69-------2500--------------625--------74.00
10:16----down 33.74---3212.07-------2500--------------625--------74.50
10:34----down 34.73---3211.08-------2505--------------620--------74.50
10:40----down 33.54---3212.27-------2505--------------620--------75.50
10:50----down 28.86---3216.95-------2510--------------620--------75.50
10:51----down 24.66---3221.25-------2515--------------620--------75.50
11:07----down 30.40---3215.41-------2515--------------620--------75.50
11:10----down 26.38---3219.43-------2515--------------620--------75.50
11:22----down 25.42---3220.39-------2515--------------615--------76.00
11:26----down 21.72---3224.09-------2515--------------620--------76.50
11:31----down 19.87---3225.94-------2520--------------620--------76.50
11:40----down 15.95---3229.86-------2525--------------620--------76.50
11:43----down 13.36---3232.45-------2520--------------620--------78.00
11:54----down 9.99----3235.82-------2525--------------625--------77.50
12:00----down 11.65---3234.16-------2520--------------625--------78.50
Market closed.
The market again showed its resiliency as it recovered most of its losses.
*****If today, one was lucky enough to buy on these dips and sell on recovery, (see MERB; low 73.50 and high 78.50) then you have just made money by daytrading.
With the PLDT ADRs trading at only PhP 2475 in the US markets; it was seen that at the last trade that PLDT was overpriced and soon enough fell to close the gap.
For the purpose of illustrating the movement of the Philippine Stock Exhange Index (PSEi) against blue chip issues, aside from PLDT; the price movement of Ayala Corporation (AC) and Meralco B shares (MERB) were monitored during the trading day.
----------------------------PSEi--------TEL (PLDT)-----AC-------MERB
Feb 09 (friday) --------3245.81------2550-----------635---------75.50
9:31 am---down 2.29----3243.52--------2550------------635---------75.00
9:35------down 4.53----3241.28--------2550------------630---------74.50
9:43------down 18.87---3226.94--------2525------------615---------74.00
9:47------down 21.22---3224.59--------2495------------615---------74.00
9:48------down 29.55---3216.26--------2495------------615---------73.50
With PLDT being weighed heavily in the index, the PSEi is obviously influenced by its trading price and movement in other index heavyweights.
9:50------down 36.22---3209.59--------2480------------615---------73.50
9:52------down 32.58---3213.23--------2495------------615---------73.50
Momentum now carried the market lower as selling spread across the market.
PLDT, AC and MERB has hit the days' bottom.
9:54-----down 37.85---3207.96--------2495-------------615--------73.50
9:57-----down 39.57---3206.24--------2495-------------615--------73.50
10:02----down 40.62---3205.19--------2495-------------615--------73.50
As the market neared the 3,200 support, bargain hunting once again became evident. The rally is led also by the blue chip issues
10:11----down 36.42---3209.39-------2500--------------620--------74.00
10:13----down 35.12---3210.69-------2500--------------625--------74.00
10:16----down 33.74---3212.07-------2500--------------625--------74.50
10:34----down 34.73---3211.08-------2505--------------620--------74.50
10:40----down 33.54---3212.27-------2505--------------620--------75.50
10:50----down 28.86---3216.95-------2510--------------620--------75.50
10:51----down 24.66---3221.25-------2515--------------620--------75.50
11:07----down 30.40---3215.41-------2515--------------620--------75.50
11:10----down 26.38---3219.43-------2515--------------620--------75.50
11:22----down 25.42---3220.39-------2515--------------615--------76.00
11:26----down 21.72---3224.09-------2515--------------620--------76.50
11:31----down 19.87---3225.94-------2520--------------620--------76.50
11:40----down 15.95---3229.86-------2525--------------620--------76.50
11:43----down 13.36---3232.45-------2520--------------620--------78.00
11:54----down 9.99----3235.82-------2525--------------625--------77.50
12:00----down 11.65---3234.16-------2520--------------625--------78.50
Market closed.
The market again showed its resiliency as it recovered most of its losses.
*****If today, one was lucky enough to buy on these dips and sell on recovery, (see MERB; low 73.50 and high 78.50) then you have just made money by daytrading.
Saturday, February 10, 2007
Philippine Exports, FDIs and "Hot Money"
Exports
The 2006 Philippine export growth of 14% to $47.03 billion outperformed the government's growth target of 10%
This is despite the decline in exports by in December (the first drop in 13 months), as the strong peso made the country's exports more expensive for foreign buyers. In December, exports fell 3.8% year-on-year to $3.68 billion after a 10.7% gain in November.
Foreign Direct Investment (FDI)
Investor enthusiasm over the country's improving economy has started to translate into significant grwth in Foreign Direct Investment. For the first 11 months of 2006, FDIs reached $ 2 billion with November inflows reaching $ 46 million. This is the highest since 2001.
Investor confidence was boosted by the solid macroeconomic fundamentals particularly the improvement in the government's fiscal position and the steady decline in inflation rate.
"Hot Money"
Foreign investments in Philippine stocks, bonds and other financial instrumens stood at $252.52 million in January, more than reversing an outflow of $115.47 million a year earlier.
Net inflows for the whole of 2006 went up by 24% and reached $2.602 billion, about $498.4 million more than the total inflow in 2005 which was at $2.103 billion.
According to BSP Governor Amando Tetangco, the development reflected continuing bullish sentiment on the country's economic prospects following evidence of sustained improvement in economic and financial indicators.
He cited the continued slowdown in inflation to 4.3% in December, a better-than-expected balance of payments surplus of $3.77 billion in 2006 and the reduction in the fiscal deficit to $62.2 billion in 2006.
reference / source: The Philippine Star; Business Pages February 10, 2007 - Saturday
The 2006 Philippine export growth of 14% to $47.03 billion outperformed the government's growth target of 10%
This is despite the decline in exports by in December (the first drop in 13 months), as the strong peso made the country's exports more expensive for foreign buyers. In December, exports fell 3.8% year-on-year to $3.68 billion after a 10.7% gain in November.
Foreign Direct Investment (FDI)
Investor enthusiasm over the country's improving economy has started to translate into significant grwth in Foreign Direct Investment. For the first 11 months of 2006, FDIs reached $ 2 billion with November inflows reaching $ 46 million. This is the highest since 2001.
Investor confidence was boosted by the solid macroeconomic fundamentals particularly the improvement in the government's fiscal position and the steady decline in inflation rate.
"Hot Money"
Foreign investments in Philippine stocks, bonds and other financial instrumens stood at $252.52 million in January, more than reversing an outflow of $115.47 million a year earlier.
Net inflows for the whole of 2006 went up by 24% and reached $2.602 billion, about $498.4 million more than the total inflow in 2005 which was at $2.103 billion.
According to BSP Governor Amando Tetangco, the development reflected continuing bullish sentiment on the country's economic prospects following evidence of sustained improvement in economic and financial indicators.
He cited the continued slowdown in inflation to 4.3% in December, a better-than-expected balance of payments surplus of $3.77 billion in 2006 and the reduction in the fiscal deficit to $62.2 billion in 2006.
reference / source: The Philippine Star; Business Pages February 10, 2007 - Saturday
Friday, February 9, 2007
The Philippine Stockmarket Rebounds - February 09, 2007
The Philippine stockmarket bounces back after the past day's downtrend. It easily hurdled the 3,200 level as bargain hunters came back in a big way. The economic good news that have been filtering the past week had investors just waiting on the sidelines for a signal to buy in the market.
The day's market February 9 ,2007
PSEi previous close: 3196.08 (Feb 08)
time-----------up / down------------PSEi---------PhP vs $------PhP vs $ volume
9:31----------down 2.99-----------3193.09
9:45----------up 28.76 -----------3224.84--------48.347-------Php 49.50 mn
9:47----------up 32.97------------3229.05
9:56----------up 49.60------------3245.68
9:58----------up 52.71------------3248.79
10:00--------up 54.76------------3250.84
10:01--------up 57.60------------3253.68
10:11---------up 55.16-----------3251.24
10:16----------up 57.00---------3253.08
10:19-----------------------------------------------48.340---------PhP87.50mn
10:23----------up57.83----------3253.91
10:34----------up 59.39--------3255.47
10:48----------up 59.29---------3255.37
10:56----------up 59.29---------3255.37
10:59-----------------------------------------------48.313---------PhP189.87mn
11:00----------up 59.91---------3255.99
11:02----------up 61.63---------3257.71
the day's high
11:08----------up60.32---------3256.40
11:10----------up59.04----------3255.12
11:21----------up53.05----------3249.13
11:31----------up47.98-----------3244.06
11:36----------up44.24----------3240.32
11:42----------up46.96---------3243.04
11:45----------up 49.28---------3245.36
11:50----------up45.77---------3241.85
11:56----------up43.71---------3239.79
11:59----------up 50.11--------3246.19
12:00---------up49.73----------3245.81
Market Close
The rebound was led by PLDT as it had corrected from a high of Php 2820 which was attained on January 25, 2007. It gained PhP 90 for the day to closse at PhP 2550 from PhP 2470 previously.
There is liquidity in the market system and fundamentals are intact. As mentioned in the previous days'; deep corrections may be seen as buying windows.
The day's market February 9 ,2007
PSEi previous close: 3196.08 (Feb 08)
time-----------up / down------------PSEi---------PhP vs $------PhP vs $ volume
9:31----------down 2.99-----------3193.09
9:45----------up 28.76 -----------3224.84--------48.347-------Php 49.50 mn
9:47----------up 32.97------------3229.05
9:56----------up 49.60------------3245.68
9:58----------up 52.71------------3248.79
10:00--------up 54.76------------3250.84
10:01--------up 57.60------------3253.68
10:11---------up 55.16-----------3251.24
10:16----------up 57.00---------3253.08
10:19-----------------------------------------------48.340---------PhP87.50mn
10:23----------up57.83----------3253.91
10:34----------up 59.39--------3255.47
10:48----------up 59.29---------3255.37
10:56----------up 59.29---------3255.37
10:59-----------------------------------------------48.313---------PhP189.87mn
11:00----------up 59.91---------3255.99
11:02----------up 61.63---------3257.71
the day's high
11:08----------up60.32---------3256.40
11:10----------up59.04----------3255.12
11:21----------up53.05----------3249.13
11:31----------up47.98-----------3244.06
11:36----------up44.24----------3240.32
11:42----------up46.96---------3243.04
11:45----------up 49.28---------3245.36
11:50----------up45.77---------3241.85
11:56----------up43.71---------3239.79
11:59----------up 50.11--------3246.19
12:00---------up49.73----------3245.81
Market Close
The rebound was led by PLDT as it had corrected from a high of Php 2820 which was attained on January 25, 2007. It gained PhP 90 for the day to closse at PhP 2550 from PhP 2470 previously.
There is liquidity in the market system and fundamentals are intact. As mentioned in the previous days'; deep corrections may be seen as buying windows.
Thursday, February 8, 2007
Gross International Reserves (GIR) at record high
Gross International Reserves
The country's gross international reserves hit $23.76 bn in January, rising by $ 790 mn from December and $ 2 bn more than the recorded level for the same period last year.
This end-January GIR level could cover about 4.6 months of imports of goods and payments of reserves and income.
Peso vs $
The peso also hit its highest level in nearly six years. It went to a high of PhP 48.355 to the dollar before closing at PhP 48.365
source / reference : The Philippine Star; Business pages February 8, 2007
The day's market - February 8 , 2007
The PSEi closed previously at 3232.39 and was seen to consolidate as a correction has set in. The market tried to bounce back from the previous days' losses very early in the trading day and was even up by about 5 points at one point. Selling momentum built up from the previous days immediately dragged the market lower towards the 3200 support level.
time-------------up / down-------------PSEi------------PhP vs $----------PhP volume
9:39----------------------------------------------------------48.433-----------84.00mn
10:12---------------------------------------------------------48.433----------138.00mn
10:45------------down 24.81------------3207.58
11:15------------down 21.55------------3210.84
11:19----------------------------------------------------------48.437----------287.00mn
peso slightly weaker against the dollar
11:20------------down 25.80------------3206.59
11:32------------down 34.60------------3197.79
market broke down the 3200 support and drop accelerates
11:43------------down 40.98-----------3191.41
the days low was at 3190.74. the market tries to stay near the 3,200 level
11:58-------------down 38.34----------3194.15
12:00------------down 36.31-----------3196.08
Market Close
The market has gone down about a hundred points in just three days (on Feb 6 - tuesday, it hit an intraday high of 3,308.58.). The support now is at 3,155 to 3170 level and seems to be the likely target.
But as the market ended just a tad below the 3200 level, it may try to hover around and try to attempt to rebound above. Bargain hunters may step in as they see some picks. Also, activity is seen in the second and third liners and this will keep investors buoyant
The drop in the market is still a healthy correction and these dips can be seen as buying windows. The PSEi right now needs to retrace after going up nearly 10% year since end-December 2006.
The country's gross international reserves hit $23.76 bn in January, rising by $ 790 mn from December and $ 2 bn more than the recorded level for the same period last year.
This end-January GIR level could cover about 4.6 months of imports of goods and payments of reserves and income.
Peso vs $
The peso also hit its highest level in nearly six years. It went to a high of PhP 48.355 to the dollar before closing at PhP 48.365
source / reference : The Philippine Star; Business pages February 8, 2007
The day's market - February 8 , 2007
The PSEi closed previously at 3232.39 and was seen to consolidate as a correction has set in. The market tried to bounce back from the previous days' losses very early in the trading day and was even up by about 5 points at one point. Selling momentum built up from the previous days immediately dragged the market lower towards the 3200 support level.
time-------------up / down-------------PSEi------------PhP vs $----------PhP volume
9:39----------------------------------------------------------48.433-----------84.00mn
10:12---------------------------------------------------------48.433----------138.00mn
10:45------------down 24.81------------3207.58
11:15------------down 21.55------------3210.84
11:19----------------------------------------------------------48.437----------287.00mn
peso slightly weaker against the dollar
11:20------------down 25.80------------3206.59
11:32------------down 34.60------------3197.79
market broke down the 3200 support and drop accelerates
11:43------------down 40.98-----------3191.41
the days low was at 3190.74. the market tries to stay near the 3,200 level
11:58-------------down 38.34----------3194.15
12:00------------down 36.31-----------3196.08
Market Close
The market has gone down about a hundred points in just three days (on Feb 6 - tuesday, it hit an intraday high of 3,308.58.). The support now is at 3,155 to 3170 level and seems to be the likely target.
But as the market ended just a tad below the 3200 level, it may try to hover around and try to attempt to rebound above. Bargain hunters may step in as they see some picks. Also, activity is seen in the second and third liners and this will keep investors buoyant
The drop in the market is still a healthy correction and these dips can be seen as buying windows. The PSEi right now needs to retrace after going up nearly 10% year since end-December 2006.
Wednesday, February 7, 2007
January 2007 Inflation Figure
Inflation
Inflation was lower in January, at just 3.9%. It was the lowest in more than three years, from 4.3% in December.
" The 3.9% inflation rate further confirms the benign inflation outlook. It provides additional flexibility for monetary policy. This will further support greater economic resilience and help advance financial reforms and strengthen market confidence"
-Bangko Sentral ng pilipinas Governor Amando Tetangco Jr. -
reference / source: BusinessMirror February 7, 2007
Peso vs the Dollar
The peso rose to a six year high agains the dollar as indications of a benign inflation environment for the year further buoyed market sentiment on the country's economic fundamentals.
It closed at PhP 48.505, a steep 16 1/2 centavo climb from Monday.
reference / source: BusinessWorld February 7, 2007
The days' market February 7, 2007
Today at the Philippine Stock Exchange
PSEi Previous close: 3271.97 (February 6, 2007)
time -----------up / down ----------PSEi --------Peso vs $ ------Peso vs $ volume
9:31 am -------up 12.49---------- 3284.46
9:37------------------------------------------------------48.43 -----------103.50 mn
9:38---------- up 2.89----------- 3274.86
The Philippine stock market reacted positively on a knee-jerk reaction on the strength of the peso and better than expected inflation figures.
9:43----------- down 1.62--------- 3270.35
9:54 -----------down 10.78 ---------3261.19
9:58 -----------down 6.67---------- 3265.30
10:10---------- down 12.99 ---------3258.98
10:13 -----------down 14.71 ---------3257.26
10:15 -----------down 15.25--------- 3256.72---------- 48.406----------- 254.00 mn
10:18 -----------down 18.54--------- 3253.43
10:23----------- down 26.30--------- 3245.67
10:26----------- down 28.63--------- 3243.34
10:30----------- down 29.15--------- 3242.82
10:33----------- down 30.93---------- 3241.04
10:35----------- down 32.70---------- 3239.27 ---------48.404----------- 287.00mn
10:42----------- down 32.16----------- 3239.81
10:45-----------down 35.68 ---------- 3236.29
10:54----------- down 40.52----------- 3231.45
the market seems to have bottomed out for the day and tries to bounce back
10:55----------- down 36.81----------- 3235.16
10:57----------- down 34.04----------- 3237.93
10:59----------- down 33.30----------- 3238.77
11:01 -----------down 32.83----------- 3239.14
11:08----------- down 31.42------------ 3240.55
11:15------------ down 30.97----------- 3241.00 -----------48.399---------- 353.00mn
11:20------------ down 29.52----------- 3242.45
11:35----------------------------------------------------------- 48.398 -----------361.00mn
11:42------------ down 26.91------------ 3245.06
11:46------------ down 26.61------------ 3245.36
the market tried to rally above the 3250 level, its previous support but selling in the final minutes had it closing near its day's low
11:54 ------------down 29.76------------ 3242.21
11:58 ------------down 30.95------------ 3241.33
11:59 ------------------------------------------------------------48.373----------- 471.00mn
12:00 ------------down 39.58------------ 3232.39
Market close
reference: Maktrade system
The market failed to stay above the 3250 support. Correction may continue on momentum and the new support is pegged at 3200-3220.
Considering the good economic figures that came out, the decline is still a healthy one and may be taken as opportunities for bargain hunting.
Trade in the next two days may be lackluster with a downward bias ahead of the weekend and the coming chinese new years celebration. A rebound may not be discounted as buying is seen to come in near support levels.
Inflation was lower in January, at just 3.9%. It was the lowest in more than three years, from 4.3% in December.
" The 3.9% inflation rate further confirms the benign inflation outlook. It provides additional flexibility for monetary policy. This will further support greater economic resilience and help advance financial reforms and strengthen market confidence"
-Bangko Sentral ng pilipinas Governor Amando Tetangco Jr. -
reference / source: BusinessMirror February 7, 2007
Peso vs the Dollar
The peso rose to a six year high agains the dollar as indications of a benign inflation environment for the year further buoyed market sentiment on the country's economic fundamentals.
It closed at PhP 48.505, a steep 16 1/2 centavo climb from Monday.
reference / source: BusinessWorld February 7, 2007
The days' market February 7, 2007
Today at the Philippine Stock Exchange
PSEi Previous close: 3271.97 (February 6, 2007)
time -----------up / down ----------PSEi --------Peso vs $ ------Peso vs $ volume
9:31 am -------up 12.49---------- 3284.46
9:37------------------------------------------------------48.43 -----------103.50 mn
9:38---------- up 2.89----------- 3274.86
The Philippine stock market reacted positively on a knee-jerk reaction on the strength of the peso and better than expected inflation figures.
9:43----------- down 1.62--------- 3270.35
9:54 -----------down 10.78 ---------3261.19
9:58 -----------down 6.67---------- 3265.30
10:10---------- down 12.99 ---------3258.98
10:13 -----------down 14.71 ---------3257.26
10:15 -----------down 15.25--------- 3256.72---------- 48.406----------- 254.00 mn
10:18 -----------down 18.54--------- 3253.43
10:23----------- down 26.30--------- 3245.67
10:26----------- down 28.63--------- 3243.34
10:30----------- down 29.15--------- 3242.82
10:33----------- down 30.93---------- 3241.04
10:35----------- down 32.70---------- 3239.27 ---------48.404----------- 287.00mn
10:42----------- down 32.16----------- 3239.81
10:45-----------down 35.68 ---------- 3236.29
10:54----------- down 40.52----------- 3231.45
the market seems to have bottomed out for the day and tries to bounce back
10:55----------- down 36.81----------- 3235.16
10:57----------- down 34.04----------- 3237.93
10:59----------- down 33.30----------- 3238.77
11:01 -----------down 32.83----------- 3239.14
11:08----------- down 31.42------------ 3240.55
11:15------------ down 30.97----------- 3241.00 -----------48.399---------- 353.00mn
11:20------------ down 29.52----------- 3242.45
11:35----------------------------------------------------------- 48.398 -----------361.00mn
11:42------------ down 26.91------------ 3245.06
11:46------------ down 26.61------------ 3245.36
the market tried to rally above the 3250 level, its previous support but selling in the final minutes had it closing near its day's low
11:54 ------------down 29.76------------ 3242.21
11:58 ------------down 30.95------------ 3241.33
11:59 ------------------------------------------------------------48.373----------- 471.00mn
12:00 ------------down 39.58------------ 3232.39
Market close
reference: Maktrade system
The market failed to stay above the 3250 support. Correction may continue on momentum and the new support is pegged at 3200-3220.
Considering the good economic figures that came out, the decline is still a healthy one and may be taken as opportunities for bargain hunting.
Trade in the next two days may be lackluster with a downward bias ahead of the weekend and the coming chinese new years celebration. A rebound may not be discounted as buying is seen to come in near support levels.
Tuesday, February 6, 2007
New Record Low for 91-day T-bill rate
Treasury Bill Auctions
Yesterday, the 91-day Treasury bill rate dropped to 3.008% a new record low. This was from the 3.171% recorded at the January 22 auction.
Treasury officials increased the award as it was reported that the T-bill sale was seven times oversubscribed amid liiquidity and abscence of instruments where the market can excess funds.
* the 91 day t-bill is used by banks as a benchmark for loan rates
182 -day t-bill 3.473% from 3.665%
364 -day t-bill 3.998% from 4.218%
Total awards amounted to PhP 5.6bn or PhP 1.6bn over the Php 4 bn offered.
Reference : The Philippine Star; Business pages
The day's market - February 6, 2007
The Philippine stock market started strong and broke above the 3,300 level early on the trading day. The PSEi was up by about 27 points at one time and reached an intraday high of 3,282.02.
Selling pressure however was felt by midtrading and prompted a correction. The market ended lower by 9.93 points (-0.30%) to close the day at 3,271.97. This reversal could signal a minor pullback after the 6th straight session of advancing.
The market is likely to consolidate between the 3,250 - 3,300 level as it needs a stronger base before advancing further to try to test the all time high level at around 3,447 which was achieved on February 1997.
* FLI resumed trading after completion of its secondary offering at PhP 1.605. It closed for the day at PhP 1.82 after opening at Php 1.80 reaching a high of PhP 1.92
Yesterday, the 91-day Treasury bill rate dropped to 3.008% a new record low. This was from the 3.171% recorded at the January 22 auction.
Treasury officials increased the award as it was reported that the T-bill sale was seven times oversubscribed amid liiquidity and abscence of instruments where the market can excess funds.
* the 91 day t-bill is used by banks as a benchmark for loan rates
182 -day t-bill 3.473% from 3.665%
364 -day t-bill 3.998% from 4.218%
Total awards amounted to PhP 5.6bn or PhP 1.6bn over the Php 4 bn offered.
Reference : The Philippine Star; Business pages
The day's market - February 6, 2007
The Philippine stock market started strong and broke above the 3,300 level early on the trading day. The PSEi was up by about 27 points at one time and reached an intraday high of 3,282.02.
Selling pressure however was felt by midtrading and prompted a correction. The market ended lower by 9.93 points (-0.30%) to close the day at 3,271.97. This reversal could signal a minor pullback after the 6th straight session of advancing.
The market is likely to consolidate between the 3,250 - 3,300 level as it needs a stronger base before advancing further to try to test the all time high level at around 3,447 which was achieved on February 1997.
* FLI resumed trading after completion of its secondary offering at PhP 1.605. It closed for the day at PhP 1.82 after opening at Php 1.80 reaching a high of PhP 1.92
Friday, February 2, 2007
The stockmarket reacts positively on the news
The days' market: February 2, 2007
The stockmarket continued its run up as the news of the dwindling budgetary deficit perked up investors. Philippine Stock Exhange Index (PSEi) ended the day higher by 23.92 pts (+0.74%) to end at 3269.18.
For the week, all sectors advanced and the best performer was the Property sector which ended higher by 8.11% in the past five trading days.
Other important data for investors:
Gold price $652.65 / ounce as of February 1, 2007
T-bill 91-day (weekly auction date 22 january 07)
3.171% down from 3.795% previously
MART1 RATES
February 1, 2007 ( source: BusinessWorld Friday-Saturday. February 2-3, 2007)
Benchmark Interest Mart 1
Rates 2/1/07
1 month 3.7393
3 months 3.9975
6months 4.7839
1 year 5.0179
3 years 5.7250
5 years 6.1154
10 years 6.9125
We see how news and economic data affect the equities market (stockmarket) and we can learn how to use this information in our investing decisions.
The stockmarket continued its run up as the news of the dwindling budgetary deficit perked up investors. Philippine Stock Exhange Index (PSEi) ended the day higher by 23.92 pts (+0.74%) to end at 3269.18.
For the week, all sectors advanced and the best performer was the Property sector which ended higher by 8.11% in the past five trading days.
Other important data for investors:
Gold price $652.65 / ounce as of February 1, 2007
T-bill 91-day (weekly auction date 22 january 07)
3.171% down from 3.795% previously
MART1 RATES
February 1, 2007 ( source: BusinessWorld Friday-Saturday. February 2-3, 2007)
Benchmark Interest Mart 1
Rates 2/1/07
1 month 3.7393
3 months 3.9975
6months 4.7839
1 year 5.0179
3 years 5.7250
5 years 6.1154
10 years 6.9125
We see how news and economic data affect the equities market (stockmarket) and we can learn how to use this information in our investing decisions.
Thursday, February 1, 2007
News that matters for investment decisions.
Gross Domestic Product ( GDP )
The Philippine GDP grew by 5.4% in 2006. The economy got a boost from strong exports and dollar inflows from overseas workers. It just missed the 5.5% target of the government because of the series of typhoons that hit the country in the last quarter. The figure however is still better than the 5.0% growth of 2005
The contry's gross national product (GNP) also rose 6.2 %, as compared with 5.6% in 2005. GNP is GDP plus income earned abroad.
Budget Deficit
The Philippine government just announced that its budget deficit for 2006 stood at P62.2 billion ($1.27 billion) or 1.04 % of gross domestic product. According to the release, this is the third year in a row that it had outperformed annual target.
The figure was less than half of the P125 billion expected for the period.
The expected budget deficit for 2007 is P63 billion and by 2008 it is targetted to end nearly a decade of fiscal shortfalls in 2008.
* Source : Inquirer.net
One of the musts in investing is knowing the business condition andtherefore the investment climate. In this case the state of the Philippine economy is what matters first. Keep reading the business pages and watch our for the economic news that comes out. This will give us an idea how investment may perform and will guide us in our making decisions.
Since these news just came out, we start with them because in investing, it is important for the right information to get to the right people at the right time.
A positive and increasing GDP signifies growth in the economy. Generally, investing is better in a growing economy. The GDP growth posted was a modest one but signals an improving business climate. A target growth of at least 6.1 to 6.7% for 2007 was set.
If the government operates on a budget deficit, it needs to source fund to plug these shortfalls. They have to borrow abroad and thereby increase our foreign debt. They also crowd out local borrowers for available funds. These lead to to an increae in interest rates. Higher rates means higher costs of doing business.
Currently, local interest rates are low enough ( T-bills are just around 3.5% and three year bonds just above 5.%) to spur businesses to expand, banks to lend, buyers to purchase real estate and properties and excess liquid funds to buy in the stock market (now near its 10 year highs - PSEi closed at 3245.26 today).
The Philippine GDP grew by 5.4% in 2006. The economy got a boost from strong exports and dollar inflows from overseas workers. It just missed the 5.5% target of the government because of the series of typhoons that hit the country in the last quarter. The figure however is still better than the 5.0% growth of 2005
The contry's gross national product (GNP) also rose 6.2 %, as compared with 5.6% in 2005. GNP is GDP plus income earned abroad.
Budget Deficit
The Philippine government just announced that its budget deficit for 2006 stood at P62.2 billion ($1.27 billion) or 1.04 % of gross domestic product. According to the release, this is the third year in a row that it had outperformed annual target.
The figure was less than half of the P125 billion expected for the period.
The expected budget deficit for 2007 is P63 billion and by 2008 it is targetted to end nearly a decade of fiscal shortfalls in 2008.
* Source : Inquirer.net
One of the musts in investing is knowing the business condition andtherefore the investment climate. In this case the state of the Philippine economy is what matters first. Keep reading the business pages and watch our for the economic news that comes out. This will give us an idea how investment may perform and will guide us in our making decisions.
Since these news just came out, we start with them because in investing, it is important for the right information to get to the right people at the right time.
A positive and increasing GDP signifies growth in the economy. Generally, investing is better in a growing economy. The GDP growth posted was a modest one but signals an improving business climate. A target growth of at least 6.1 to 6.7% for 2007 was set.
If the government operates on a budget deficit, it needs to source fund to plug these shortfalls. They have to borrow abroad and thereby increase our foreign debt. They also crowd out local borrowers for available funds. These lead to to an increae in interest rates. Higher rates means higher costs of doing business.
Currently, local interest rates are low enough ( T-bills are just around 3.5% and three year bonds just above 5.%) to spur businesses to expand, banks to lend, buyers to purchase real estate and properties and excess liquid funds to buy in the stock market (now near its 10 year highs - PSEi closed at 3245.26 today).
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