The Week That Was - March 19 to 23, 2007

The market ended the week on a weak note as US markets also took a breather from its strong run up the past day's. It was only up by 13.62 points overnight to end at 12461.14

The day's market - March 23, 2007

PSEi previous close - 3178.32

time----------change-----------PSEi
9:31-----------up 4.98
9:36--------------1.85

Local equities tried to rally on the onset to continue its advancing momentum. But concerns that the US DJIA may be ripe for a correction esp since iits rally may have lost steam had profit takers on a selling mode. With the weekend coming uo, investors also preferred to cash in.
The peso was trading at PhP 48.166 vs $ 1.00

9:37-------down 0.06
9:46-------------0.82
9:52-------------9.11
10:03-----------16.05
10:11------------25.64
10:30-----------27.72
10:33-----------31.42
10:38-----------25.82
10:59-----------36.77----------3141.55

The market touched its low and rallied in the last hour to limit losses.

11:22-----------29.65
11:44-----------25.45
11:48-----------20.41
11:51-----------15.53
11:57-----------13.05
11:59-----------12.96
12:01------------8.27
Market Close.



The week's news.

US Fed keeps key rate steady at 5.25%
---------Philippine Star B-10 March 23, 2007

RP likely to beat '07 BOP surplus goal
....The Bangko Sentral ng Pilipinas expects the country to beat its balance of payments surplus forecast of $1.6 billion this year........
....The Philippines had a record BOP surplus of $3.77 billion in 2006, above the central bank's forecast of $2.8 billion and the surplus of $2.41 billion in 2005...
--------Philippine Star B-1 March 23, 2007

China property giant to invest $2-$4 billion
--------BusinessWorld frontpage March 22,2007

Vega's Wynn Resorts: Manila can be prime gaming hub
..........WYNN resorts Ltd of Las Vegas fame is keen on investing anywhere from $500 million to $1.5 billion for a hotel-resort with casino here, with one official saying the Philippines has the potential of overtaking Macau as a prime gaming destination in seven to 10 years.........

Pagcor all set for Phase I of "Entertainment City'
-------BusinessMirror front page March 22,2007

Investments OK'd by BOI, Peza in Jan-Feb up 125%
---------BusinessMirror A2- March 22, 2007


The week's trading.

-----------------Last week-----Close----------UP--------Change
PHISIX----------3,062.25-----3,170.05------107.80----+3.52%
HOLDINGS------1,827.80-----1,847.85-------20.05----+1.09%
INDUSTRIAL----4,157.68-----4,264.98-----107.30----+2.58%
PROPERTY------1,376.90-----1,395.91-------19.01----+1.38%
FINANCIAL-------892.90-------917.23-------24.33----+2.72%
MINING-OIL----4,960.01-----5,280.55-----320.54----+6.46%
ALL SHARES----1,980.45-----2,038.09------57.64----+2.91%


TOP GAINERS:
1. SINO: PhP0.33; +60.98%
2. CYBR: PhP0.44; +57.14%
3. ZIP: PhP1.00; +51.52%

WORST DECLINERS:
1. JOH: PhP1.02; -36.25%
2. CAC: PhP1.24; -34.74%
3. MHC: PhP0.50; -13.79%

VALUE TURNOVER:
1. ALI: PhP3,292 mn (close: PhP15.75; unch)
2. TEL: PhP2,040 mn (close: PhP2,495.00; +9.19%)
3. AC: PhP1,081 mn (close: PhP545.00; -1.80%)