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.