The day's market - March 13, 2007

Local investors seems to have gotten back confidence in the market or excess funds just have no other place to park owing to low interest rates and high liquidity. In any case, the stockmarket continues its recovery and is on sight to test the 3,200 level.

PSEi previous close 3124.96 (March 12, 2007)

time----------------up----------------PSEi
9:31--------------15.76-------------3140.72
9:45--------------24.46
9:46--------------32.46
9:55--------------46.59
10:06-------------52.67
10:35-------------60.01
10:41-------------56.41
10:56-------------60.72
11:14-------------51.74
11:18-------------50.86
11;25-------------49.22
11:36-------------47.83
11:49-------------53.35
11;54-------------46.27
12:00-------------57.00---------3181.96

The market opened strong and once again after the initial runup, it was able to maintain its gains throughout the trading session.

Value turnover PhP 3.66 billion.

Advancers outnumbered Decliners 81 to 32.

All sectors were up.
Holdings +2.62%
Property +2.55%
Services +1.67%
Financial +1.53%
M-O +1.25%
Industrial +0.77%




News that the debt of the National Government declined by about 1% (to PhP 3.851 trillion at the end of Dec 2006 from PhP 3.888 trillion in 2005), also added to the confidence in the country's economic fundamentals.
As of end 2006, the debt to GDP (Gross Domestic Product) ratio went down to 64% from the end 2005 level of 72%. ( The target is 56% by 2008).
* 44% (PhP 1.697 trillion) owed to foreign creditors; and 56% (PhP 2.154 trillion) to domestic creditors

Political news somehow are still just ignored. Over the weekend, the Comelec office burned down and just today, the "Favorita and Figaro" scandal implicating the First Gentleman was in the papers. The PSEi is now up by 6.7% year to date.