The Philippine Stock Market consolidates at the 3,600 level - June 05, 2007

The Dow Jones Industrial Average closed up by 8.21 points to close at 13676.32. This is despite the fact that the China stock market again fell by around 8% yesterday.

This was however enough for the strong upward market momentum to be halted.

PSEi previous close - 3622.94 (June 04, 2007)

time------------------down------------------PSEi
9:31-------------------8.57
9:39------------------12.64
9:41------------------14.01
9:42------------------16.07
9:43------------------20.87
9:49------------------23.70----------------3599.77

The initial support at the 3600 level was immediately tested but it briefly held.

9:53-------------------17.53
10:08------------------15.41
10:10------------------26.17--------------3596.77

The 3600 failed to hold at this time and the market moved lower

10:12------------------27.81
10:16------------------28.16
10:32------------------28.92-------------3594.02 (the day's low)
10:40------------------22.16-------------3600.78

After the PSEi touched it's day's low, it soon bounced back to the 3,600 level and consolidated in the next 30 minutes.

10:51------------------22.83---------------3600.99
11:03------------------21.95
11:04------------------24.36---------------3598.58
11:07------------------22.72
11:08------------------20.36---------------3602.58

After breaking above the 3600 level, the market stayed above and tried to build a base.

11:09-----------------19.37
11:13-----------------18.96
11:16-----------------17.32
11:20-----------------16.70
11:22-----------------14.68
11:23-----------------14.44-----------------3608.50

The market drifted sideways above the 3600 level the rest of the trading day.

11:28-----------------16.23
11:35-----------------14.62
11:38-----------------18.91
11:40-----------------19.79------------------3603.15
11:45-----------------17.11
11:47-----------------14.45
11:50-----------------13.73
11:52-----------------12.54
11:56-----------------11.99
11:57-----------------11.79------------------3611.15
11:59-----------------13.45
12:01-----------------14.80-----------------3608.14 (-0.41%)
Market Close.

Advancers 53
Decliners 62

Value turnover PhP 5.040 bn
Cross transactions PhP 2.153 bn

Sectoral Indices
M-O +0.29%
Holdings +0.13%
Industrial 0.0%
Services -0.19%
Property -1.06%
Financial -1.07%

Closing prices of select stocks (June 04, 2007)
ABA - PhP 0.013
ALI - PhP 17.25
AR - PhP 0.014
DGTL - PhP 1.56
EIB - PhP 0.54
LOTO - PhP 16.50
MPI - PhP 4.50
NRCP - PhP 4.30
SUN - PhP 0.77
V - PhP 1.70
WEB - PhP 0.0525

The Peso was at the PhP 45.69 level in the morning trade.