The Philippine Stock Market reaches a new all time high

The Philippine Stock Exchange opened tentative but still with an upward bias as the local equities market showed inherent strength. The US market closed down by 10.81 points and closed at 13476.72.
Gold fell $4.50 and was at $656.30 / ounce and Oil was up and neared the $ 65 / barrel level.


time--------------up---------------PSEi
9:31-------------7.14---------------3424.83
9;32-------------2.42
9:33-------------3.20
9:34-------------3.41
9:35-------------1.71
9:36-------------6.99
9:37----------------------- PhP 46.773 vs $ 1.00
9:39-------------5.59
9:41-------------9.88---------------3427.57

The immediate resistance at 3425 is broken. The market consolidates in the next few minutes as it tries to build a base at this level.

9:43------------8.39
9:45------------8.59
9:51-----------13.04
9:52------------8.76
9:54------------8.31
9:55-----------12.59
9:57------------9.47

The market now moves to a higher level as the 3,425 level holds and investors gain renewed confidence that equities will move higher.

9:58-----------16.05--------------------3433.74
10:00----------17.65
10:02----------18.02
10:04----------19.14--------------------3436.83
10:06----------17.06
10;15-----------16.81
10:17-----------17.94
10:18----------------------PhP 46.741 vs $ 1.00
10:21-----------15.67
10:23-----------17.16
10:24-----------16.25
10:28-----------14.13
10:29-----------12.93
10:31-----------17.94
10:33-----------18.69
10:37-----------17.57
10:39-----------20.80
10:41-----------22.94---------------3440.63
10:49-----------17.01
10:53-----------------------PhP 46.723 vs $ 1.00
10:55-----------18.65
10:57-----------20.56
11:00-----------16.50
11:01------------22.43---------------3440.12

The 3,450 resistance is now within sight and is vigorously targetted.

11:02------------22.98
11:03------------24.27
11:04------------24.63
11:05------------25.45
11:07------------28.40
11:08------------31.19
11:09------------30.30
11:11------------30.31
11:12------------30.75
11:14------------28.91
11:17------------31.04
11:18------------31.26
11:19------------33.20--------------3450.89

The resistance now tested once more.

11:20-----------34.95
11:21-----------37.11
11:22-----------35.75
11:23-----------35.95
11:25-----------36.99
11:26-----------40.24---------------3457.93 (the new all time- high)

The market just hovered around the 3,450 level, testing its strength. Lack of time as trading nears its end ahead of the weekend prevented further advance.

11:30----------38.73
11;33----------37.72
11:38----------36.45
11;42----------37.97
11:47----------33.77
11:48----------30.71-----------------3448.40
11:50----------34.28
11:51----------30.93
11:52----------34.26
11:55----------33.02-----------------3450.71
11:57----------36.90
11:58----------37.45-----------------3455.14
11:59----------34.18
12:01----------31.49-----------------3449.18 (+0.92% and a new all time high close)
Market Close.

Advancers 62
Decliners 40

Value turnover PhP 9.740 bn
Cross transactions PhP 1.615 bn
Block sales PhP 4.817 bn

Sectoral Indices
Industrial +2.16%
Holdings +1.47%
Financial +0.69%
Services +0.49%
M-O +0.33%
Property -0.50%

Closing prices of select stocks - May 18, 2007
ABA - PhP 0.012
ALI - PhP 15.25
AR - PhP 0.012
DGTL - PhP 1.60
EIB - PhP 0.53
GO - PhP 0.26
GOB - PhP 0.26
LOTO - PhP 15.75
MPI - PhP 4.60
NRCP - PhP 4.25
SUN - no trade
V - PhP 1.70
WEB - PhP 0.050