Market momentum was stymied as the Dow Jones was tentative in its advance of 15.61 points (closed at 13,105.50). The local equities market also declined as sellers liquidated ahead of the weekend and the trading break on Tuesday (May 1 - Labor Day).
The PSEi opened lower and continued its drop; as it gave back most of yesterday's gains. It is currently testing the strength of the 3,300 level as a support base.
PSEi previous close - 3350.34 (April 26, 2007)
time-----------down----------------PSEi
9:45----------6.20
9:46---------14.48
9:50---------19.27
10:11--------22.42
10:13--------26.16
10:31--------27.30
10:46--------28.37
11:00--------30.02
11:03--------30.52
11;24--------32.15
11:35--------34.98
11:56--------39.00------------3311.34 (day's low)
11:59--------29.58
12;01--------31.96 -----------3318.38 (-0.95%)
Market Close.
Advancers 20
Decliners 80
Value turnover PhP 4.782 bn
Cross transactions PhP 1.325 bn
Block sales PhP 564 mn
Today, was the listing date of NRCP (National Reinsurance Corp. of the Philippines)
IPO Offer Price PhP 3.80
open PhP 4.50
high PhP 5.00
close PhP 4.50
total trade for the day 179,755,000 shares or PhP 832 mn
Sectoral Indices performance for the week
M-O +4.93%
Pproperty +3.20%
Holdings +3.20%
Industrial +1.08%
Financial +0.09%
The PSEi was up 1.95% for the week. (from 3254.76 to 3318.78)
The 3,300 level must prove its strength as a support before the market can proceed higher. Otherwise , a breakdown may revert the market to its wide range trading band.
Next week's trading will be cut by a break on Labor Day and with election day nearing, some investors are adopting a wait and see attitude but are ready to jump in once trends are clear.
Long term bullish prospects are intact.
Friday, April 27, 2007
Thursday, April 26, 2007
The day's market - April 26, 2007
Quotes from an interview regarding the market's performance yesterday.
BusinessWorld - April 26, 2007
The Dow Jones Industrial Average (DJIA) broke the landmark 13,000 level. It advanced 135.95 points to close at 13,089.89. As expected, the bullish sentiment spilled over to the local equity market.
PSEi previous close - 3,309.43 (April 25, 2007)
The market immediately opened up and tested the upper limit of its trading range resistance (3,300-3,325). The market hovered at around this level for the first hour and a half of trading.
time-----------------up--------------------PSEi
9:31---------------16.23-----------------3325.66
9:32---------------14.14
9;33---------------13.21
9:35---------------12.52
9:37---------------10.71
9:39----------------8.45
9:41---------------13.55
9:45---------------16.52-----------------3325.95
Once the 3325 level was broken, the market proceeded higher. This resistance level will now be tested as a support.
9:48---------------18.51
9;50---------------19.29
9:55---------------19.75
9:56---------------23.38
10:09--------------24.32
10;20--------------19.89
10:30--------------17.07
10:34--------------15.23---------------3324.66
10:35--------------16.67
10:53--------------16.52
When the 3325 level held, investors pushed the markets to higher level in the last hour of trading.
10:59--------------18.47
11:09--------------20.15
11:28--------------20.22
11:32--------------21.28
11:38--------------22.52
11:40--------------23.12
11:44--------------23.61
Another buying frenzy was observed in the last 15 minutes of trading.
11:47--------------26.56
11:49--------------29.09
11:53--------------30.59
11:57--------------36.25
11:58--------------38.51
12:01--------------40.91----------------3350.34 (+1.24%)
Market Close.
Advancers 70
Decliners 26
Value turnover PhP 4.002 bn
Cross transactions PhP 1.373 bn
Sectoral Indices
Holdings +3.34%
M-O +2.80%
Industrial +1.65%
Property +1.16%
Financial +0.71%
Services -0.07%
The market closed at its high and momentum is seen to carry it to higher levels and even possibly test its all time high levels at the 3,400-3,425 range.
Tomorrow's trade will also be marked by the listing of Natioinal Reinsurance which just had its IPO (Initial Public Offering) completed. It offered its price at PhP 3.80 per share. It was 12X oversubscribed and more shares were made available to the public (103.9 million shares more) through the greenshoe option. Some OTC (Over The Counter) trades were said to have already reached PhP 4.50 and its listing tomorrow is sure to generate a lot of interest.
BusinessWorld - April 26, 2007
The Dow Jones Industrial Average (DJIA) broke the landmark 13,000 level. It advanced 135.95 points to close at 13,089.89. As expected, the bullish sentiment spilled over to the local equity market.
PSEi previous close - 3,309.43 (April 25, 2007)
The market immediately opened up and tested the upper limit of its trading range resistance (3,300-3,325). The market hovered at around this level for the first hour and a half of trading.
time-----------------up--------------------PSEi
9:31---------------16.23-----------------3325.66
9:32---------------14.14
9;33---------------13.21
9:35---------------12.52
9:37---------------10.71
9:39----------------8.45
9:41---------------13.55
9:45---------------16.52-----------------3325.95
Once the 3325 level was broken, the market proceeded higher. This resistance level will now be tested as a support.
9:48---------------18.51
9;50---------------19.29
9:55---------------19.75
9:56---------------23.38
10:09--------------24.32
10;20--------------19.89
10:30--------------17.07
10:34--------------15.23---------------3324.66
10:35--------------16.67
10:53--------------16.52
When the 3325 level held, investors pushed the markets to higher level in the last hour of trading.
10:59--------------18.47
11:09--------------20.15
11:28--------------20.22
11:32--------------21.28
11:38--------------22.52
11:40--------------23.12
11:44--------------23.61
Another buying frenzy was observed in the last 15 minutes of trading.
11:47--------------26.56
11:49--------------29.09
11:53--------------30.59
11:57--------------36.25
11:58--------------38.51
12:01--------------40.91----------------3350.34 (+1.24%)
Market Close.
Advancers 70
Decliners 26
Value turnover PhP 4.002 bn
Cross transactions PhP 1.373 bn
Sectoral Indices
Holdings +3.34%
M-O +2.80%
Industrial +1.65%
Property +1.16%
Financial +0.71%
Services -0.07%
The market closed at its high and momentum is seen to carry it to higher levels and even possibly test its all time high levels at the 3,400-3,425 range.
Tomorrow's trade will also be marked by the listing of Natioinal Reinsurance which just had its IPO (Initial Public Offering) completed. It offered its price at PhP 3.80 per share. It was 12X oversubscribed and more shares were made available to the public (103.9 million shares more) through the greenshoe option. Some OTC (Over The Counter) trades were said to have already reached PhP 4.50 and its listing tomorrow is sure to generate a lot of interest.
Wednesday, April 25, 2007
The day's market - April 25, 2007
From an interview regarding yesterday's market performance and outlook in today's trading.
time-------------------change-------------------PSEI
9:30----------------down 2.27
9:31------------------up 0.55
9:36---------------------9.90-----------------3301.83
The 3,300 was immediately challenged.
9:38-------------------11.28
9:39-------------------12.96
9:42-------------------14.63
9:46-------------------15.54
9:47-------------------18.79
9:50-------------------19.29
9:51-------------------20.46
10:01-----------------21.58
10:08-----------------22.22------------------3314.15 (day's high)
Even if the market was up, decliners outnumbered gainers and the early gains were hard pressed to be sustained
10:23----------------12.25
10:27----------------11.25
10:43----------------10.46
10:44-----------------9.04------------------3300.97
The 3,300 level is still a shaky support.
11:02-----------------7.60-------------------3299.53
11:07-----------------6.88
11:10-----------------3.76
11:17-----------------2.30
11:24-----------------0.06
The market showed its uncertainty.
11:30-----------------4.88
11:31-----------------6.15
11:40-----------------1.87
Buying in the last minutes of trading buoyed up the index.
11:50-----------------7.50
12;01----------------17.50--------------3309.43 (+0.53%)
Market Close.
Advancers 45
Decliners 66
Value turnover PhP 3.266 bn
Cross transactions PhP 1.120 bn
The market may continue to take its lead from the movement in the Dow Jones in WallStreet. It rose 34.54 points last night to close at 12,953.94. A strong break of the key 13,000 level may pull up the Philippine stock market also nearer to its record high levels.
BusinessWorld - April 25, 2007
Today, local equities traded within the upper limit of the trading range.
time-------------------change-------------------PSEI
9:30----------------down 2.27
9:31------------------up 0.55
9:36---------------------9.90-----------------3301.83
The 3,300 was immediately challenged.
9:38-------------------11.28
9:39-------------------12.96
9:42-------------------14.63
9:46-------------------15.54
9:47-------------------18.79
9:50-------------------19.29
9:51-------------------20.46
10:01-----------------21.58
10:08-----------------22.22------------------3314.15 (day's high)
Even if the market was up, decliners outnumbered gainers and the early gains were hard pressed to be sustained
10:23----------------12.25
10:27----------------11.25
10:43----------------10.46
10:44-----------------9.04------------------3300.97
The 3,300 level is still a shaky support.
11:02-----------------7.60-------------------3299.53
11:07-----------------6.88
11:10-----------------3.76
11:17-----------------2.30
11:24-----------------0.06
The market showed its uncertainty.
11:30-----------------4.88
11:31-----------------6.15
11:40-----------------1.87
Buying in the last minutes of trading buoyed up the index.
11:50-----------------7.50
12;01----------------17.50--------------3309.43 (+0.53%)
Market Close.
Advancers 45
Decliners 66
Value turnover PhP 3.266 bn
Cross transactions PhP 1.120 bn
The market may continue to take its lead from the movement in the Dow Jones in WallStreet. It rose 34.54 points last night to close at 12,953.94. A strong break of the key 13,000 level may pull up the Philippine stock market also nearer to its record high levels.
Tuesday, April 24, 2007
The day's market - April 24, 2007
The market corrected after yesterday's strong advance into the upper limit of the market's wide trading range. The US market also corrected upon nearing the 13,000 resistance level.
The PSEi support at 3,300 level was immediately tested.
PSEi previous close - 3319.01 (April 23, 2007)
time-------------------down-----------------PSEi
9:31--------------------12.19----------------3306.82
9:32--------------------15.18
9:33--------------------16.79
9:35--------------------15.26
9:38--------------------17.21---------------3301.80
9:41--------------------19.68---------------3299.33
9:42--------------------21.65
9:44--------------------21.68
The market attempts to stay above the 3,300 level.
9:45--------------------16.24--------------3302.77
9:48--------------------15.92
9:49--------------------17.68
9:50--------------------18.14-------------3300.87
The 3,300 level buckles and fails to hold.
9:52-------------------19.09--------------3299.92
9:54-------------------21.06
9;57-------------------21.77
9:58-------------------23.02--------------3295.99
PLDT shares had its first matched trade for the day at PhP 2,540; down from its previous close of PhP 2,570. The market immediately fell lower as the drop was reflected in the PSEi.
10:02-----------------34.73--------------3284.28
10:05-----------------34.86
10:07-----------------35.71
10:10-----------------36.58
10:12-----------------37.81
10;14-----------------39.20
10:16-----------------39.26
10:18-----------------40.56
10:27-----------------42.45-----------3276.56 (day's low)
10:36-----------------35.73
10:40-----------------35.34
10:43-----------------35.18
10:57-----------------34.18
10:58-----------------33.51
11:06-----------------30.97
11:20-----------------30.90
11:25-----------------29.64
11:26-----------------28.48
11:50-----------------27.76
11:56-----------------27.60
11:59-----------------25.11-----------3293.90
12:01-----------------27.08-----------3291.93
Market Close.
Advancers 44
Decliners 62
Value turnover PhP 4.450 bn
Cross Transactions PhP 1.999 bn
Sectoral Indices
Services -1.74%
Property -1.13%
Financial -0.37%
Industrial +0.03%
Holdings +0.05%
M-O +1.52%
The market closed near the 3,300 level and is still trying to break out of its wide trading range.
The PSEi support at 3,300 level was immediately tested.
PSEi previous close - 3319.01 (April 23, 2007)
time-------------------down-----------------PSEi
9:31--------------------12.19----------------3306.82
9:32--------------------15.18
9:33--------------------16.79
9:35--------------------15.26
9:38--------------------17.21---------------3301.80
9:41--------------------19.68---------------3299.33
9:42--------------------21.65
9:44--------------------21.68
The market attempts to stay above the 3,300 level.
9:45--------------------16.24--------------3302.77
9:48--------------------15.92
9:49--------------------17.68
9:50--------------------18.14-------------3300.87
The 3,300 level buckles and fails to hold.
9:52-------------------19.09--------------3299.92
9:54-------------------21.06
9;57-------------------21.77
9:58-------------------23.02--------------3295.99
PLDT shares had its first matched trade for the day at PhP 2,540; down from its previous close of PhP 2,570. The market immediately fell lower as the drop was reflected in the PSEi.
10:02-----------------34.73--------------3284.28
10:05-----------------34.86
10:07-----------------35.71
10:10-----------------36.58
10:12-----------------37.81
10;14-----------------39.20
10:16-----------------39.26
10:18-----------------40.56
10:27-----------------42.45-----------3276.56 (day's low)
10:36-----------------35.73
10:40-----------------35.34
10:43-----------------35.18
10:57-----------------34.18
10:58-----------------33.51
11:06-----------------30.97
11:20-----------------30.90
11:25-----------------29.64
11:26-----------------28.48
11:50-----------------27.76
11:56-----------------27.60
11:59-----------------25.11-----------3293.90
12:01-----------------27.08-----------3291.93
Market Close.
Advancers 44
Decliners 62
Value turnover PhP 4.450 bn
Cross Transactions PhP 1.999 bn
Sectoral Indices
Services -1.74%
Property -1.13%
Financial -0.37%
Industrial +0.03%
Holdings +0.05%
M-O +1.52%
The market closed near the 3,300 level and is still trying to break out of its wide trading range.
Before trading - April 24, 2007
The US markets corrected as Oil prices went above the $65 a barrel level and on renewed concerns of home loan defaults. The Dow Jones Industrial Average (DJIA) declined by 42.58 points (-0.33%) overnight to close at 12,919.40. The 13,000 level is the resistance.
In the Philippine stock market, local equities must continue its advance and now break above the 3,325 level, for its current runup to be sustained. If it cannot do so convincingly, the overnight drop in the DJIA and the just published First Quarter 2007, budget deficit figures (PhP 52 billion vs the PhP 45.8 billion target) may be used as an excuse to correct or consolidate.
(The peso was weaker from its firm levels in yesterdays morning trade and closed PhP 47.67 to $ 1.00; after the deficit figures came out).
The PSEi must also hold above the 3,300 level to be able to move out of its wide range trading (3,200/3,220 - 3,300/3,325).
The Japanese Nikkei Index just opened lower by 100 points this morning.
In the Philippine stock market, local equities must continue its advance and now break above the 3,325 level, for its current runup to be sustained. If it cannot do so convincingly, the overnight drop in the DJIA and the just published First Quarter 2007, budget deficit figures (PhP 52 billion vs the PhP 45.8 billion target) may be used as an excuse to correct or consolidate.
(The peso was weaker from its firm levels in yesterdays morning trade and closed PhP 47.67 to $ 1.00; after the deficit figures came out).
The PSEi must also hold above the 3,300 level to be able to move out of its wide range trading (3,200/3,220 - 3,300/3,325).
The Japanese Nikkei Index just opened lower by 100 points this morning.
Monday, April 23, 2007
The day's market - April 23, 2007
Record levels in the US Dow Jones Industrial Average props up trading in the Philippine stock market. With WallStreet advancing 153.35 points and closing at a record high at 12,961.98, the local equities market also advanced strongly.
Even with a technical glitch hampering trading and reflecting a 33 point drop in the first few minutes of trading, this did not deter investors from buying in the market. When the error was corrected (as observed below), the uptick then continued to pick up.
PSEI previous close 3254.76 (April 20, 2007)
time-----------------up ----------------------PSEi
9:48---------------26.46
9:55---------------29.89
10;06-------------35.44
10:11-------------39.10
10;19-------------41.09
10:23-------------43.27
10:27--------------43.50---------------------3298.26
The 3,300 level is broken.
10:33--------------46.79---------------------3301.05
10:37--------------48.48
10:55--------------50.06
11:02--------------52.26
11:45--------------57.35
11:53--------------59.24
11:54--------------61.07
12:01--------------64.25--------------------3319.01
Market Close.
Advancers 74
Decliners 34
Value turnover PhP 3.272 bn
Sectoral Indices
Property +2.69%
M-O +2.19%
Services +2.11%
Holdings +1.52%
Financial +1.27%
Industrial +0.50%
Morning trade:
47.497 PhP vs $US 1.00
All asian equities market were up.
Gold $ 691 / ounce
The market is now at the upper limit of its trading range (having broken the 3,300 level) and needs to go above the 3,325 level to sustain its upward momentum.
Even with a technical glitch hampering trading and reflecting a 33 point drop in the first few minutes of trading, this did not deter investors from buying in the market. When the error was corrected (as observed below), the uptick then continued to pick up.
PSEI previous close 3254.76 (April 20, 2007)
time-----------------up ----------------------PSEi
9:48---------------26.46
9:55---------------29.89
10;06-------------35.44
10:11-------------39.10
10;19-------------41.09
10:23-------------43.27
10:27--------------43.50---------------------3298.26
The 3,300 level is broken.
10:33--------------46.79---------------------3301.05
10:37--------------48.48
10:55--------------50.06
11:02--------------52.26
11:45--------------57.35
11:53--------------59.24
11:54--------------61.07
12:01--------------64.25--------------------3319.01
Market Close.
Advancers 74
Decliners 34
Value turnover PhP 3.272 bn
Sectoral Indices
Property +2.69%
M-O +2.19%
Services +2.11%
Holdings +1.52%
Financial +1.27%
Industrial +0.50%
Morning trade:
47.497 PhP vs $US 1.00
All asian equities market were up.
Gold $ 691 / ounce
The market is now at the upper limit of its trading range (having broken the 3,300 level) and needs to go above the 3,325 level to sustain its upward momentum.
Friday, April 20, 2007
The day's market - April 20, 2007
The market was tentative after the past two day's steep drop succeeding the two day strong advance earlier this week. The DJIA was also flat at 12, 808.63 (up 4.79 points) but moved within a wide range between the 12,730 to 12,830 levels during its trading.
PSEi previous close - 3238.06 (April 19, 2007)
time-------------change---------------PSEi
9:32-------------down 2.07
9:34---------------up 0.36
9:37-------------down 0.82
9:41---------------up 0.75
9:44-------------down 0.31
9:45---------------up 6.61
9:51------------------2.94
10:02----------------9.40
10:17----------------5.82
10:25----------------3.65
10:33----------------7.04
10:54----------------8.18
11:00----------------8.68
An hour to go before trading closes, the market seemed to have stabilized enough and investors began to take positions in the market.
11:03---------------11.71
11:19---------------13.38
11:20---------------15.05
11:24---------------13.70
11:31---------------12.92
11:35---------------14.89
11:38---------------15.42
11:41---------------17.34
11:44---------------14.67
A mild buying binge is observed but is shortlived
11:46---------------18.61
11:47---------------25.40
11:48---------------26.57
11:49---------------28.69
11:55---------------29.21-------------3267.27
The PSEi briefly touched the 3267 level (the previous day's support target which was overshot) and is now a minor resistance.
11:57---------------26.75
11:58---------------24.80
11:59---------------21.91
12:01---------------16.70------------3254.76
Market Close.
Advancers 74
Decliners 34
Value turnover PhP 2.274 bn
Cross and Block transactions PhP 740 mn
Sectoral Indices
Financial +0.90%
Services +0.84%
M-O +0.68%
Industrials +0.38%
Holdings -0.37%
Property -0.06%
Market is still in a wide consolidation between the 3,200 to 3,300 levels and would be looking for new leads to set the trend for next week's trading.
PSEi previous close - 3238.06 (April 19, 2007)
time-------------change---------------PSEi
9:32-------------down 2.07
9:34---------------up 0.36
9:37-------------down 0.82
9:41---------------up 0.75
9:44-------------down 0.31
9:45---------------up 6.61
9:51------------------2.94
10:02----------------9.40
10:17----------------5.82
10:25----------------3.65
10:33----------------7.04
10:54----------------8.18
11:00----------------8.68
An hour to go before trading closes, the market seemed to have stabilized enough and investors began to take positions in the market.
11:03---------------11.71
11:19---------------13.38
11:20---------------15.05
11:24---------------13.70
11:31---------------12.92
11:35---------------14.89
11:38---------------15.42
11:41---------------17.34
11:44---------------14.67
A mild buying binge is observed but is shortlived
11:46---------------18.61
11:47---------------25.40
11:48---------------26.57
11:49---------------28.69
11:55---------------29.21-------------3267.27
The PSEi briefly touched the 3267 level (the previous day's support target which was overshot) and is now a minor resistance.
11:57---------------26.75
11:58---------------24.80
11:59---------------21.91
12:01---------------16.70------------3254.76
Market Close.
Advancers 74
Decliners 34
Value turnover PhP 2.274 bn
Cross and Block transactions PhP 740 mn
Sectoral Indices
Financial +0.90%
Services +0.84%
M-O +0.68%
Industrials +0.38%
Holdings -0.37%
Property -0.06%
Market is still in a wide consolidation between the 3,200 to 3,300 levels and would be looking for new leads to set the trend for next week's trading.
BusinessWorld Article - April 20, 2007
Quotes from an interview on April 19, 2007 regarding the market performance and outlook.
Published in the BusinessWorld April 20, 2007
Thursday, April 19, 2007
The day's market - April 19, 2007
The Dow Jones Industrial Average (DJIA) rose by 30.80 points overnight in WallStreet and closed at a record high of 12,803.84. The Philippine stock market initially tried to advance and tested the 3,300 resistance level but succumbed to selling pressure.
PSEi previous close - 3295.28 (April 18, 2007)
time--------------change -------------PSEi
9:31-------------up 5.15--------------3300.43
9:32----------------2.85
9:33----------------1.19
9:34----------------0.69
9:36----------down 0.16
9:38----------------3.68
9:42------------up 3.09
9:46----------------2.57
9:49----------------0.30
When it became evident, that the market would not be able to break the 3300 resistance level, investors took it as a cue to sell down and lock in profits.
9:58---------down 5.31
10:05--------------6.71
10:06--------------9.22
10:07-------------13.09
10:11-------------15.06--------------3280.22
10:14-------------15.51
10:15-------------16.30
10:16-------------16.97
With the decline expanding, the closure of the gap at the 3,267 was the objective. Minute by minute, the downtrend accelerated.
10:19------------19.81
10:20------------22.38
10:21------------23.27
10:22------------23.44
10:23------------26.82
10:24------------28.30-------------3266.98
Chart gap is closed. But with all asian equity markets declining in the morning trade, sentiment has already turned sour, and some investors panicked and continued selling.
10:28------------33.84
10:33------------37.78
10:37------------40.72
10:40------------41.45
10:44------------42.53
10:50------------43.50
10:54------------43.80
10:59------------51.39
11:01------------51.52
11:02------------51.68
11:03------------52.28
11;05------------52.44
11:10------------54.52
11:11------------56.19
11:12------------58.28
The decline paused for a while.
11:16------------54.30
But selling resumed.
11:19------------58.02
11:27------------58.27
11:28------------58.47
11:29------------62.17
11:31------------63.84
11:38------------64.29--------------3230.99 (day's low)
Mild buying in the lastr minutes cut some of the declines.
11:41------------61.11
11:43------------58.40
11:44------------56.64
11:45------------54.75
11:54------------58.89
11:58------------53.99
12:01------------57.22-------------3238.06 (-1.74%)
Market Close.
Advancers 15
Decliners 98
Value turnover PhP4.062 bn
Cross transactions PhP 1.261 bn
Sectoral Indices
Property -3.24%
M-O -3.01%
Holdings -1.87%
Financial -1.46%
Industrial -1.11%
Services -0.51%
The Philippine Stock Exchange Index (PSEi) is now looking for a solid support as the market fall was overdone and may have affected investor sentiment in the short-term. With a support at the 3,200-3,220 level seen, the trading range is capped at 3,300.
PSEi previous close - 3295.28 (April 18, 2007)
time--------------change -------------PSEi
9:31-------------up 5.15--------------3300.43
9:32----------------2.85
9:33----------------1.19
9:34----------------0.69
9:36----------down 0.16
9:38----------------3.68
9:42------------up 3.09
9:46----------------2.57
9:49----------------0.30
When it became evident, that the market would not be able to break the 3300 resistance level, investors took it as a cue to sell down and lock in profits.
9:58---------down 5.31
10:05--------------6.71
10:06--------------9.22
10:07-------------13.09
10:11-------------15.06--------------3280.22
10:14-------------15.51
10:15-------------16.30
10:16-------------16.97
With the decline expanding, the closure of the gap at the 3,267 was the objective. Minute by minute, the downtrend accelerated.
10:19------------19.81
10:20------------22.38
10:21------------23.27
10:22------------23.44
10:23------------26.82
10:24------------28.30-------------3266.98
Chart gap is closed. But with all asian equity markets declining in the morning trade, sentiment has already turned sour, and some investors panicked and continued selling.
10:28------------33.84
10:33------------37.78
10:37------------40.72
10:40------------41.45
10:44------------42.53
10:50------------43.50
10:54------------43.80
10:59------------51.39
11:01------------51.52
11:02------------51.68
11:03------------52.28
11;05------------52.44
11:10------------54.52
11:11------------56.19
11:12------------58.28
The decline paused for a while.
11:16------------54.30
But selling resumed.
11:19------------58.02
11:27------------58.27
11:28------------58.47
11:29------------62.17
11:31------------63.84
11:38------------64.29--------------3230.99 (day's low)
Mild buying in the lastr minutes cut some of the declines.
11:41------------61.11
11:43------------58.40
11:44------------56.64
11:45------------54.75
11:54------------58.89
11:58------------53.99
12:01------------57.22-------------3238.06 (-1.74%)
Market Close.
Advancers 15
Decliners 98
Value turnover PhP4.062 bn
Cross transactions PhP 1.261 bn
Sectoral Indices
Property -3.24%
M-O -3.01%
Holdings -1.87%
Financial -1.46%
Industrial -1.11%
Services -0.51%
The Philippine Stock Exchange Index (PSEi) is now looking for a solid support as the market fall was overdone and may have affected investor sentiment in the short-term. With a support at the 3,200-3,220 level seen, the trading range is capped at 3,300.
Wednesday, April 18, 2007
The day's market - April 18, 2007
The market took a breather after the 100 point advance in just two days. The market has been deemed to have advanced too fast too soon and has reached key resistance levels.
Investors ignored the more than 50 point advance in the Dow Jones Industrial Average (DJIA) in WallStreet. The gains across asian markets and the strong peso did not prevent today's correction.
PSEi previous close - 3318.17 (April 17, 2007)
time-----------down------------PSEi
9:31-------------1.87
9:39-------------3.50
9:40------------10.00
9.47------------13.70
9:53------------19.89----------3298.28
The immediate support at 3,300 level has been broken. When it became evident that it won't hold, the fall accelerated.
9:57------------20.11
10:00----------21.23
10:02----------22.39
10:04----------23.38
10:05----------25.22
10:07----------26.49
10:09----------26.92
As the decline extended, the index attempted to close the chart gap opened yesterday at 3267-3281 level.
10:11----------29.31
10:14----------29.71
10:17----------30.75
10:18----------32.72
10:19----------33.18
An initial rally attempt is shortlived
10:23----------29.98
10:30----------24.54
10:33----------30.37
10:36----------31.04
10:37----------32.95
10:38----------34.33
10:39----------36.30------------3281.87
The upper level of the chart gap is reached.
10:45----------37.01
10:46----------38.98
10:55----------39.11
10:57----------39.76
10:59----------40.31
11:01----------41.06
11:02----------41.27-------------3276.90 (day's low)
The last hour of trading was marked by a recovery that limited the day's losses.
11:22-----------35.81
11:28-----------35.80
11:47-----------29.33
11:50-----------27.66
11:55-----------26.27
12:01-----------22.89-----------3295.28
Market Close.
Value turnover PhP 5.58bn
Cross transactions PhP 1.57 bn
Block transactions PhP 1.89 bn
Advancers 33
Decliners 74
Sectoral Indices
Property -1.68%
Financial -0.99%
Services -0.61%
Industrial -o.33%
M-O -0.31%
Holdings -0.24%
The market was able to edge near the 3,300 level at the close. In order to continue toward its march to its multiyear high point of 3,417, it needs to consolidate and build a solid support at this level. Any weakness may induce the market to fully close the gap at 3,267.
Investors ignored the more than 50 point advance in the Dow Jones Industrial Average (DJIA) in WallStreet. The gains across asian markets and the strong peso did not prevent today's correction.
PSEi previous close - 3318.17 (April 17, 2007)
time-----------down------------PSEi
9:31-------------1.87
9:39-------------3.50
9:40------------10.00
9.47------------13.70
9:53------------19.89----------3298.28
The immediate support at 3,300 level has been broken. When it became evident that it won't hold, the fall accelerated.
9:57------------20.11
10:00----------21.23
10:02----------22.39
10:04----------23.38
10:05----------25.22
10:07----------26.49
10:09----------26.92
As the decline extended, the index attempted to close the chart gap opened yesterday at 3267-3281 level.
10:11----------29.31
10:14----------29.71
10:17----------30.75
10:18----------32.72
10:19----------33.18
An initial rally attempt is shortlived
10:23----------29.98
10:30----------24.54
10:33----------30.37
10:36----------31.04
10:37----------32.95
10:38----------34.33
10:39----------36.30------------3281.87
The upper level of the chart gap is reached.
10:45----------37.01
10:46----------38.98
10:55----------39.11
10:57----------39.76
10:59----------40.31
11:01----------41.06
11:02----------41.27-------------3276.90 (day's low)
The last hour of trading was marked by a recovery that limited the day's losses.
11:22-----------35.81
11:28-----------35.80
11:47-----------29.33
11:50-----------27.66
11:55-----------26.27
12:01-----------22.89-----------3295.28
Market Close.
Value turnover PhP 5.58bn
Cross transactions PhP 1.57 bn
Block transactions PhP 1.89 bn
Advancers 33
Decliners 74
Sectoral Indices
Property -1.68%
Financial -0.99%
Services -0.61%
Industrial -o.33%
M-O -0.31%
Holdings -0.24%
The market was able to edge near the 3,300 level at the close. In order to continue toward its march to its multiyear high point of 3,417, it needs to consolidate and build a solid support at this level. Any weakness may induce the market to fully close the gap at 3,267.
BusinessWorld News Article - April 18, 2007
Quotes from an interview regarding the performance of the Philippine Stock Market. BusinessWorld - April 18, 2007
Tuesday, April 17, 2007
The day's market - April 17, 2007
The market continued its surge from yesterday and got a big boost from the advance in the US equities market, the continuing strength of the peso and the rising metal prices.
PSEi previous close - 3267.86 (April 16, 2007)
time---------------up------------------PSEi
9:31--------------9.34
9:36-------------20.68
9:37-------------23.25
9:40-------------31.73----------------3299.59
After just 10 minutes of trading, the market already tested the 3,300 immediate resistance level. Local equities continued its advance as liquidity poured in equity investments and investors take positions.
9:45-------------34.54
9:46-------------40.85
9:48-------------42.81
9:53-------------47.02
10:00-----------47.87
10:10-----------47.93
Another buying binge pushed the market higher and closed the gap in the chart at the 3,325 level.
10:18-----------60.28 ---------------3328.14
10:19-----------64.92
10:37-----------54.30
10:38-----------52.79
10:43-----------57.23
10:45-----------61.53
10:50-----------57.71
10:55-----------60.51
10:58-----------62.40
11:00-----------63.11
11:02-----------65.54
11:03-----------67.51
11:05-----------67.92--------------3335.78 (day high)
Profit taking in the last hour of trading prevented the market to close near its high. the market has now advanced more than a hundred points since yesterday.
11:17-----------60.94
11:26-----------58.97
11:43-----------54.24
11:49-----------52.41
12:01-----------50.31-------------3318.17
Market Close.
Value turnover swelled to PhP 6.278 bn (with PhP 2.59 bn in cross transactions).
Advancers 64
Decliners 33
Sectoral Indices
Services +3.75%
Holdings +0.83%
Industrial +0.78%
M-O +0.72%
Property +0.36%
Financial +0.03%
The immediate target resistance has been achieved in just two days. Momentum is seen to carry the market higher and the PSEi is likely to test its multi year high of 3417. The new immediate resistance is at the 3,350 -3,380 level.
A consolidation at the 3,300 level is possible as the index has moved up too fast too soon and some investors may opt to take profit. And again, any sudden steep slides in the US and major asian markets; and even in metal prices, may be taken as an excuse for a correction.
With today's jump in the local stock market, a new gap at at the 3267 level has been left in the charts. A breakdown below the 3,300 level may signal a move to close the opening.
PSEi previous close - 3267.86 (April 16, 2007)
time---------------up------------------PSEi
9:31--------------9.34
9:36-------------20.68
9:37-------------23.25
9:40-------------31.73----------------3299.59
After just 10 minutes of trading, the market already tested the 3,300 immediate resistance level. Local equities continued its advance as liquidity poured in equity investments and investors take positions.
9:45-------------34.54
9:46-------------40.85
9:48-------------42.81
9:53-------------47.02
10:00-----------47.87
10:10-----------47.93
Another buying binge pushed the market higher and closed the gap in the chart at the 3,325 level.
10:18-----------60.28 ---------------3328.14
10:19-----------64.92
10:37-----------54.30
10:38-----------52.79
10:43-----------57.23
10:45-----------61.53
10:50-----------57.71
10:55-----------60.51
10:58-----------62.40
11:00-----------63.11
11:02-----------65.54
11:03-----------67.51
11:05-----------67.92--------------3335.78 (day high)
Profit taking in the last hour of trading prevented the market to close near its high. the market has now advanced more than a hundred points since yesterday.
11:17-----------60.94
11:26-----------58.97
11:43-----------54.24
11:49-----------52.41
12:01-----------50.31-------------3318.17
Market Close.
Value turnover swelled to PhP 6.278 bn (with PhP 2.59 bn in cross transactions).
Advancers 64
Decliners 33
Sectoral Indices
Services +3.75%
Holdings +0.83%
Industrial +0.78%
M-O +0.72%
Property +0.36%
Financial +0.03%
The immediate target resistance has been achieved in just two days. Momentum is seen to carry the market higher and the PSEi is likely to test its multi year high of 3417. The new immediate resistance is at the 3,350 -3,380 level.
A consolidation at the 3,300 level is possible as the index has moved up too fast too soon and some investors may opt to take profit. And again, any sudden steep slides in the US and major asian markets; and even in metal prices, may be taken as an excuse for a correction.
With today's jump in the local stock market, a new gap at at the 3267 level has been left in the charts. A breakdown below the 3,300 level may signal a move to close the opening.
BusinessWorld Article - April 17, 2007 and other NEWS
Article from the BusinessWorld - April 17, 2007.
Quote from an interview regarding the performance of the Philippine stock market on April 16 (monday).
NEW NEWS
Peso hits fresh 6-year high vs dollar
The peso yesterday hit a fresh six-year high against the dollar, following the results of a Group of Seven (G-7) meeting that pointed to a steady monetary policy for most asian currencies. The peso closed at PhP 47.80 to $1. It was higher by PhP 0.105 than last friday's close.
OFWs remittances top $1 bn for 10th straight month.
Annual inflows sent through banks surged 23% to $2.2 bn in the first two months of the year.
T-bill returns inch up...
The interest rate of the 91-day Treasury bill, rose by 9.2 basis points to 2.952%, off its historic low of 2.86%. The six-month bill was up by 5.1 basis points from the 3.509% it fetched during the April 2 auction.
source / reference: BusinessWorld - April 17, 2007 (tuesday)
The Dow Jones Industrial Average is almost at its 7- year high levels as the US equity market surged and advanced by 108.33 (+0.86%) points to close at 12720.46
Monday, April 16, 2007
The day's market - April 16, 2007
PSEi previous close - 3217.07 (April 13, 2007)
The Philippine Stock Market opened flat (3217.79) as investors just came out of the weekend break and the index tried to find a solid footing at the 3,200 - 3,220 support level. Investor sentiment got a good boost as the peso traded below the PhP 48 to $ 1.00 level and all asian equity markets were higher in the morning trade.
With the 3,200 level proving its strength early on and was seen to be holding firmly, the market slowly but surely advanced throughout the trading day. Also, with the economic and financial factors that recently came out being factored in and the bullish sentiment intact, the local equities market unleashed a strong finishing kick to close at its intraday high at 3,267.86 (up by 50.79 points or +1.58%).
Support is at 3,200 and immediate target resistance is the 3,300 level.
Advancers 64
Decliners 26
Value turnover PhP 3.66 billion
Gold Prices are now trading above the $680 / ounce level. The M-O (Mining-Oil) sector led the day's advance.
Sectoral Indices
M-O +4.27%
Holdings +3.53%
Property +2.36%
Financial +0.73%
Industrial +0.47%
Services +0.36%
Index Issues
Top Gainers
1. PX +10.87%
2. AC +7.14%
3. MEG +4.17%
4. ICT +3.64%
5. LCB +3.03%
Only Decliners
1. BEL -4.23%
2.SCC -1.96%
The Philippine Stock Market opened flat (3217.79) as investors just came out of the weekend break and the index tried to find a solid footing at the 3,200 - 3,220 support level. Investor sentiment got a good boost as the peso traded below the PhP 48 to $ 1.00 level and all asian equity markets were higher in the morning trade.
With the 3,200 level proving its strength early on and was seen to be holding firmly, the market slowly but surely advanced throughout the trading day. Also, with the economic and financial factors that recently came out being factored in and the bullish sentiment intact, the local equities market unleashed a strong finishing kick to close at its intraday high at 3,267.86 (up by 50.79 points or +1.58%).
Support is at 3,200 and immediate target resistance is the 3,300 level.
Advancers 64
Decliners 26
Value turnover PhP 3.66 billion
Gold Prices are now trading above the $680 / ounce level. The M-O (Mining-Oil) sector led the day's advance.
Sectoral Indices
M-O +4.27%
Holdings +3.53%
Property +2.36%
Financial +0.73%
Industrial +0.47%
Services +0.36%
Index Issues
Top Gainers
1. PX +10.87%
2. AC +7.14%
3. MEG +4.17%
4. ICT +3.64%
5. LCB +3.03%
Only Decliners
1. BEL -4.23%
2.SCC -1.96%
Saturday, April 14, 2007
Updates on The Philippine Stock Market - April 11 to 13, 2007
April 11 (Wednesday)
Market down by 10.21 points.
PSEi closed at 3294.21
Still testing the 3,300 level after the previous day's (April 10 - Tuesday) challenge. The resistance level holds and is not broken.
April 12 (Thursday)
Market down by 70.99 points.
PSEi closed at 3223.22.
The US markets falls more than 80 points on fears of stagflation and other concerns. With the local equities market failing to break and hold above the 3,300 level the previous days; the drop in Wall Street provides the excuse to profit take after the strong run up during the shortened trading days in the Holy Week.
April 13 (Friday)
Market down by 6.15 points
PSEi closed at 3217.07.
Even as the US markets rebounded and got back most of its losses, the Philippine stock market just consolidates at the 3,200-3,220 support level. The 3,200 level must hold so the market can resume its attempt to close the technical chart price gap at the 3,324 level.
These day's more companies are doing their IPO's (Initial Public Offerings). Pacific Online Systems Corp. (LOTO) just listed last Thursday - April 12 (they offered their shares at PhP 8.88 and the stock closed at PhP 14.00 on Friday), and National Reinsurance Corp. is currently doing the rounds to offer their shares at PhP 3.80. This early, some investors are looking for more shares than the allocation they got. Aboitiz Power Corporation also just signified their intention to offer their shares.
Some listed firms also are conducting secondary offerings. Most recently was RCBC which raised more than PhP 5 billion (they offered their shares at PhP 27.00 each) in order to become the No. 5 bank in the country. Union Bank and Geo Grace are next in line. The current fund raising binges are received warmly by investors. This shows continuing confidence in the Philippine Stock Market.
Recent data and news articles show; tame inflation (lowest in several years), rising Gross Internatinal Reserves (new record highs), strong Foreign fund inflows (the foreign funds outflows during the China stockmarket fallout last month was easily wiped out by inflows in march); rising peso currency (now at around the PhP 48 to $1.00 level and poised to break it), continuing rise of OFWs' (Overseas Filipino Workers) remittances and strengthening asian equities markets (with several of them near record highs ).
Tourism arrivals picked up; Foreign Direct Investent was higher (several notable foreign firms invested in high profile projects in the country - such as the Hotel Project in Makati by the Ayalas and the Saudis) and the GSIS (Government Services and Insurance System) posted record profits from their gains in investment in the local equities market.
The medium to long term bullsh outlook is intact but the May 14, 2007 National Elections is just around the corner. It is welcome news so far that unlike in the past, politics has not really dragged down the market and spooked investors to the sidelines. With so much liquidity in the financial system, owing to low interest rates, investors are looking for investments with good potential returns and are now jumping into equities investment rather than waiting.
Market down by 10.21 points.
PSEi closed at 3294.21
Still testing the 3,300 level after the previous day's (April 10 - Tuesday) challenge. The resistance level holds and is not broken.
April 12 (Thursday)
Market down by 70.99 points.
PSEi closed at 3223.22.
The US markets falls more than 80 points on fears of stagflation and other concerns. With the local equities market failing to break and hold above the 3,300 level the previous days; the drop in Wall Street provides the excuse to profit take after the strong run up during the shortened trading days in the Holy Week.
April 13 (Friday)
Market down by 6.15 points
PSEi closed at 3217.07.
Even as the US markets rebounded and got back most of its losses, the Philippine stock market just consolidates at the 3,200-3,220 support level. The 3,200 level must hold so the market can resume its attempt to close the technical chart price gap at the 3,324 level.
These day's more companies are doing their IPO's (Initial Public Offerings). Pacific Online Systems Corp. (LOTO) just listed last Thursday - April 12 (they offered their shares at PhP 8.88 and the stock closed at PhP 14.00 on Friday), and National Reinsurance Corp. is currently doing the rounds to offer their shares at PhP 3.80. This early, some investors are looking for more shares than the allocation they got. Aboitiz Power Corporation also just signified their intention to offer their shares.
Some listed firms also are conducting secondary offerings. Most recently was RCBC which raised more than PhP 5 billion (they offered their shares at PhP 27.00 each) in order to become the No. 5 bank in the country. Union Bank and Geo Grace are next in line. The current fund raising binges are received warmly by investors. This shows continuing confidence in the Philippine Stock Market.
Recent data and news articles show; tame inflation (lowest in several years), rising Gross Internatinal Reserves (new record highs), strong Foreign fund inflows (the foreign funds outflows during the China stockmarket fallout last month was easily wiped out by inflows in march); rising peso currency (now at around the PhP 48 to $1.00 level and poised to break it), continuing rise of OFWs' (Overseas Filipino Workers) remittances and strengthening asian equities markets (with several of them near record highs ).
Tourism arrivals picked up; Foreign Direct Investent was higher (several notable foreign firms invested in high profile projects in the country - such as the Hotel Project in Makati by the Ayalas and the Saudis) and the GSIS (Government Services and Insurance System) posted record profits from their gains in investment in the local equities market.
The medium to long term bullsh outlook is intact but the May 14, 2007 National Elections is just around the corner. It is welcome news so far that unlike in the past, politics has not really dragged down the market and spooked investors to the sidelines. With so much liquidity in the financial system, owing to low interest rates, investors are looking for investments with good potential returns and are now jumping into equities investment rather than waiting.
Tuesday, April 10, 2007
The day's market - April 10, 2007
The Philippine Stock Exchange opened after the Holy Week and Araw ng Kagitingan trading break. The PSEi moved in a narrow range at the 3,300 resistance level as it consolidated after last weeks rally and with some investors still on a holiday mode.
US markets also failed to provide direction, as the Dow Jones Industrial Average (DJIA) closed higher by only 8.94 points on Easter Monday trading. It closed at 12,569.14.
PSEi previous close - 3294.23 (April 4, 2007)
time-----------------change-----------------PSEi
9:31-----------------up 9.02
9:37--------------------3.62
10:14-----------------11.52
10:28------------------6.27
10:33------------------3.91
10;45------------------7.80
10:46------------------1.23
10:51------------down 1.13
10:57------------------2.77
11:07------------------0.41
11:17---------------up 1.57
11:26------------down 2.20
11:35------------------4.35
11:41------------------0.31
11:46---------------up 2.87
11:56------------------5.29
12:01-----------------10.19 (+0.31%)---------3304.42
Market Close.
Top Gainers
OPM PhP 0.017 +13.33%
OPMB PhP 0.018 +12.50%
MEG PhP 3.95 +8.22%
Largest Decliners
FCC PhP 3.10 -8.82%
MHC PhP 0.51 -7.27%
UW PhP 0.19 -5.00%
Biggest Trading Volume
FPH PhP 518 mn PhP 75.00 unch
TEL PhP 453 mn PhP 2530.00 -1.17%
MBT PhP 427 mn PhP 64.50 +1.57%
Sectoral Indices
M-O +1.57%
Property +1.06%
Holdings +0.72%
Financial +0.60%
Industrial +0.58%
Services -0.84%
Advancers 69
Decliners 32
Volume PhP 4.251 bn
With the Philippine stock market closing the trading session on a strong note and staying above the 3,300 level, the local equities market is seen to attempt to close the gap at the 3,324 level.
US markets also failed to provide direction, as the Dow Jones Industrial Average (DJIA) closed higher by only 8.94 points on Easter Monday trading. It closed at 12,569.14.
PSEi previous close - 3294.23 (April 4, 2007)
time-----------------change-----------------PSEi
9:31-----------------up 9.02
9:37--------------------3.62
10:14-----------------11.52
10:28------------------6.27
10:33------------------3.91
10;45------------------7.80
10:46------------------1.23
10:51------------down 1.13
10:57------------------2.77
11:07------------------0.41
11:17---------------up 1.57
11:26------------down 2.20
11:35------------------4.35
11:41------------------0.31
11:46---------------up 2.87
11:56------------------5.29
12:01-----------------10.19 (+0.31%)---------3304.42
Market Close.
Top Gainers
OPM PhP 0.017 +13.33%
OPMB PhP 0.018 +12.50%
MEG PhP 3.95 +8.22%
Largest Decliners
FCC PhP 3.10 -8.82%
MHC PhP 0.51 -7.27%
UW PhP 0.19 -5.00%
Biggest Trading Volume
FPH PhP 518 mn PhP 75.00 unch
TEL PhP 453 mn PhP 2530.00 -1.17%
MBT PhP 427 mn PhP 64.50 +1.57%
Sectoral Indices
M-O +1.57%
Property +1.06%
Holdings +0.72%
Financial +0.60%
Industrial +0.58%
Services -0.84%
Advancers 69
Decliners 32
Volume PhP 4.251 bn
With the Philippine stock market closing the trading session on a strong note and staying above the 3,300 level, the local equities market is seen to attempt to close the gap at the 3,324 level.
Wednesday, April 4, 2007
The day's market - April 4, 2007
The Philippine stock market got a shot in the arm from the overnight gains in WallStreet. The US DJIA zoomed up by 128 (+1.03%) points on back of the unexpected rise in pending home sales.
Asian markets also got a boost as they were all up in the morning session, and were again led by Hong Kong (up by more than 100 points) and Japan (up nearly 300 points).
The Philippine Peso was stronger and traded at around the PhP 48.14 to $ 1.00
PSEi previous close 3248.00
time-------------up------------PSEi
9:30------------16.71
9:50------------37.44
10:04-----------27.59
10:16-----------37.66
10:23-----------31.99
10:32-----------35.23
10;49-----------33.80
11:06-----------29.57
11;12-----------32.42
11:18-----------43.42
11:25-----------45.54
11:38-----------36.78
11:50-----------37.58
11:55-----------43.95
11:56-----------45.58
11:58-----------46.62
11:59-----------49.91
12:01-----------46.23---------3294.23 (+1.42%)
Market Close.
Gainers 83
Decliners 16
Value turnover PhP 5.358 billion
Sectoral Indices
Property +3.37%
Holdings +1.97%
M-O +1.47%
Industrial +1.45%
Financial +1.00%
Services +0.23%
Top Gainers
JTH--------Php 17.50 +48.94%
ASIA-------PhP 13.00 +18.18%
ABAB------PhP 0.018 +12.50%
Largest Decliners
UW--------PhP 0.20 -6.98%
LSC--------PhP 1.18 -6.35%
SFI--------PhP 0.39 -4.88%
Biggest Volumes
ALI-------PhP 742 mn------PhP 17.50 +4.47%
MBT------PhP 393 mn------PhP 63.50 +2.41%
TEL------PhP 393 mn-------PhP 2560.00 -0.19%
The PSEi closed the shortened trading week on a strong note and is poised to challenge the 3,300 level and close the close the gap at 3,324. Liquidity in the market, good financial/fiscal figures and strong company earnings lifted the local equities market this Holy Week.
**It has been a little more than a month since the global equities selldown which was triggered by the one-day 9% drop in China; and most markets have already recovered the losses.
Trading in the Philippine Stock Exchange (PSE) will resume on April 10, 2007 (tuesday).
Asian markets also got a boost as they were all up in the morning session, and were again led by Hong Kong (up by more than 100 points) and Japan (up nearly 300 points).
The Philippine Peso was stronger and traded at around the PhP 48.14 to $ 1.00
PSEi previous close 3248.00
time-------------up------------PSEi
9:30------------16.71
9:50------------37.44
10:04-----------27.59
10:16-----------37.66
10:23-----------31.99
10:32-----------35.23
10;49-----------33.80
11:06-----------29.57
11;12-----------32.42
11:18-----------43.42
11:25-----------45.54
11:38-----------36.78
11:50-----------37.58
11:55-----------43.95
11:56-----------45.58
11:58-----------46.62
11:59-----------49.91
12:01-----------46.23---------3294.23 (+1.42%)
Market Close.
Gainers 83
Decliners 16
Value turnover PhP 5.358 billion
Sectoral Indices
Property +3.37%
Holdings +1.97%
M-O +1.47%
Industrial +1.45%
Financial +1.00%
Services +0.23%
Top Gainers
JTH--------Php 17.50 +48.94%
ASIA-------PhP 13.00 +18.18%
ABAB------PhP 0.018 +12.50%
Largest Decliners
UW--------PhP 0.20 -6.98%
LSC--------PhP 1.18 -6.35%
SFI--------PhP 0.39 -4.88%
Biggest Volumes
ALI-------PhP 742 mn------PhP 17.50 +4.47%
MBT------PhP 393 mn------PhP 63.50 +2.41%
TEL------PhP 393 mn-------PhP 2560.00 -0.19%
The PSEi closed the shortened trading week on a strong note and is poised to challenge the 3,300 level and close the close the gap at 3,324. Liquidity in the market, good financial/fiscal figures and strong company earnings lifted the local equities market this Holy Week.
**It has been a little more than a month since the global equities selldown which was triggered by the one-day 9% drop in China; and most markets have already recovered the losses.
Trading in the Philippine Stock Exchange (PSE) will resume on April 10, 2007 (tuesday).
Tuesday, April 3, 2007
The day's market - April 3, 2007
The Philippine stockmarket continued its rise after staying above the 3,220 break out level. The PSEi added another 18.40 (0.57%) points to close at 3248.00.
In the morning trade, the Peso was at PhP 48.35-48.37 to $1.00 and most asian markets were higher, led by the Hong Kong and Japan markets which were both up by more than 100 points by then.
Gainers 75
Decliners 36
Sectoral Indices
Services +1.20%
Property +0.99%
Industrial +0.30%
Holdings +0.20%
M-O -0.67%
Financial -0.26%
Top Gainers
APC--------PhP 0.48 +17.07%
LAND------PhP 3.50 +16.67%
SINO------PhP 0.44 +15.79%
Largest Decliners
JTH-------PhP 11.75 -27.65%
MVC------PhP 0.66 -19.51%
MHC------PhP 0.55 -8.33%
Biggest Value turnover
TEL-------PhP 758 mn ------PhP 2565 +1.58%
AC--------PhP 571 mn-------PhP 570 +0.88%
ALI-------PhP 551 mn-------PhP 16.75 unch
PSEi previous close 3229.60 (April 2, 2007)
time---------------up------------PSEi
9:31--------------12.43
9:33--------------15.40
9:35--------------19.35
9:37--------------30.88
9:41--------------21.51
10:05------------20.22
10:18------------18.58
10:31------------23.98
10;46------------24.16
11:08------------24.71
11:15------------20.92
11;21------------24.26
11;25------------21.81
11:38------------17.88
11:41------------14.67
11;50------------17.57
11:55------------13.14
11:59------------27.36
12:01------------18.40--------3248.00
Market Close.
In the morning trade, the Peso was at PhP 48.35-48.37 to $1.00 and most asian markets were higher, led by the Hong Kong and Japan markets which were both up by more than 100 points by then.
Gainers 75
Decliners 36
Sectoral Indices
Services +1.20%
Property +0.99%
Industrial +0.30%
Holdings +0.20%
M-O -0.67%
Financial -0.26%
Top Gainers
APC--------PhP 0.48 +17.07%
LAND------PhP 3.50 +16.67%
SINO------PhP 0.44 +15.79%
Largest Decliners
JTH-------PhP 11.75 -27.65%
MVC------PhP 0.66 -19.51%
MHC------PhP 0.55 -8.33%
Biggest Value turnover
TEL-------PhP 758 mn ------PhP 2565 +1.58%
AC--------PhP 571 mn-------PhP 570 +0.88%
ALI-------PhP 551 mn-------PhP 16.75 unch
PSEi previous close 3229.60 (April 2, 2007)
time---------------up------------PSEi
9:31--------------12.43
9:33--------------15.40
9:35--------------19.35
9:37--------------30.88
9:41--------------21.51
10:05------------20.22
10:18------------18.58
10:31------------23.98
10;46------------24.16
11:08------------24.71
11:15------------20.92
11;21------------24.26
11;25------------21.81
11:38------------17.88
11:41------------14.67
11;50------------17.57
11:55------------13.14
11:59------------27.36
12:01------------18.40--------3248.00
Market Close.
Before the market opens - April 3, 2007
US Market
The Dow Jones Industrial Average (DJIA) gained a modest 27.95 (+0.23%) points to end at 12,382.30.
High - 12394.98
Low - 12324.28
source: Bloomberg TV
News Items:
China Bourse hits record high
Chinese shares rose by 2.15% higher. The latest gains , which came only a month after the one-day crash in Shanghai which started a global equity meltdown. bring gains in the markets to more than 170% since january 2006.
The benchmark Shanhai Composite Index, which covers both A- and B- shares listed in the Shanghai Stock Exchange, jumped 68.61 points to 3,252.60 points, a new high. Turnover rose to 93.30 billion yuan 9$12 billion).
91-day Philippine Treasury bill hits record low
The rate of the three month (91day) T-bill averaged 2.86%, declining by 13.8 basis points from 2.998% during the auction on March 19.
The government awarded banks a rate of 3.509% for the six-month T-bill, while it rejected for the third time bids for the one-year debt instrument.
Bids for the one-year T-bill averaged 4.474%, a steep 65.4 basis-point climb from 3.82% it last fetched during the auction on Feb 19.
Peso falls on relaxed foreign exhange rules
The Philippine peso fell against the dollar, as banks played with the flexibility in trading provided by the central bank's relaxed currency rules. It closed at PhP 48.34, weaker by PhP0.06 from last Friday's close. Volume however was thin at $324.5. The peso traded within a 12-centavo range of PhP 48.23-48.35. It averaged PhP 48.294 from PhP 48.217
reference / source: BusinessWorld - April 3, 2007
News Article
Article form the Philippine Star. Quote from an interview regarding yeterday's market performance.
This also appears in the BusinessWorld.
The Dow Jones Industrial Average (DJIA) gained a modest 27.95 (+0.23%) points to end at 12,382.30.
High - 12394.98
Low - 12324.28
source: Bloomberg TV
News Items:
China Bourse hits record high
Chinese shares rose by 2.15% higher. The latest gains , which came only a month after the one-day crash in Shanghai which started a global equity meltdown. bring gains in the markets to more than 170% since january 2006.
The benchmark Shanhai Composite Index, which covers both A- and B- shares listed in the Shanghai Stock Exchange, jumped 68.61 points to 3,252.60 points, a new high. Turnover rose to 93.30 billion yuan 9$12 billion).
91-day Philippine Treasury bill hits record low
The rate of the three month (91day) T-bill averaged 2.86%, declining by 13.8 basis points from 2.998% during the auction on March 19.
The government awarded banks a rate of 3.509% for the six-month T-bill, while it rejected for the third time bids for the one-year debt instrument.
Bids for the one-year T-bill averaged 4.474%, a steep 65.4 basis-point climb from 3.82% it last fetched during the auction on Feb 19.
Peso falls on relaxed foreign exhange rules
The Philippine peso fell against the dollar, as banks played with the flexibility in trading provided by the central bank's relaxed currency rules. It closed at PhP 48.34, weaker by PhP0.06 from last Friday's close. Volume however was thin at $324.5. The peso traded within a 12-centavo range of PhP 48.23-48.35. It averaged PhP 48.294 from PhP 48.217
reference / source: BusinessWorld - April 3, 2007
News Article
Article form the Philippine Star. Quote from an interview regarding yeterday's market performance.
This also appears in the BusinessWorld.
Monday, April 2, 2007
The day's market - April 2 , 2007
With the DJIA, flat on Friday, the local equities market rode on the momentum of last Friday's First Quarter window dressing surge. Even at the start of the Holy Week, the PSEi managed to stay above the 3,200 level and is currently testing the strength of the 3,220 resistance level as selling pressure has eased off from last week.
PSEi previous close 3203.55 (March 30, 2007)
time--------------change ---------------PSEi
9:30----------down 5.41------------3198.14 (day's low)
9:36-------------up 3.09
9:53---------------11.05
10:21--------------15.88
10:37--------------17.30
10:53--------------20.67
11:15---------------26.25
11:22--------------19.07
11:48--------------15.90
11:52--------------22.73
11:53--------------30.22------------3233.77 (day's high)
12:00--------------26.05-----------3229.60
Market Close.
Value turnover: PhP 4.409 billion
Cross transactions: PhP 2.464 billion
Gainers 72
Decliners 25
Sectoral Indices
Property +1.85%
M-O +1.13%
Financial +1.09%
Holdings +0.61%
INdustrial +0.55%
Services +0.11%
With the market above the 3,220 resistance, it is poised to continue its trek to higher ground as many sellers generally finished placing their orders last week. If the US and foreign markets do not succumb to sudden huge declines, the PSEi is looking to close the gap at the 3,224 level as its immediate objective. The 3,180-3200 level will now be seen as a minor support.
The day's close is a a one-month high. Looking at the technical charts, the 10 day moving average (m.a.) is also looking to cross above the 30 day moving average.
PSEi previous close 3203.55 (March 30, 2007)
time--------------change ---------------PSEi
9:30----------down 5.41------------3198.14 (day's low)
9:36-------------up 3.09
9:53---------------11.05
10:21--------------15.88
10:37--------------17.30
10:53--------------20.67
11:15---------------26.25
11:22--------------19.07
11:48--------------15.90
11:52--------------22.73
11:53--------------30.22------------3233.77 (day's high)
12:00--------------26.05-----------3229.60
Market Close.
Value turnover: PhP 4.409 billion
Cross transactions: PhP 2.464 billion
Gainers 72
Decliners 25
Sectoral Indices
Property +1.85%
M-O +1.13%
Financial +1.09%
Holdings +0.61%
INdustrial +0.55%
Services +0.11%
With the market above the 3,220 resistance, it is poised to continue its trek to higher ground as many sellers generally finished placing their orders last week. If the US and foreign markets do not succumb to sudden huge declines, the PSEi is looking to close the gap at the 3,224 level as its immediate objective. The 3,180-3200 level will now be seen as a minor support.
The day's close is a a one-month high. Looking at the technical charts, the 10 day moving average (m.a.) is also looking to cross above the 30 day moving average.
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