The Philippine Stock Market soars to a new record - June 01, 2007

Interview regarding market performance and outlook

BusinessWorld - June1-2, 2007


The first quarter GDP growth posted was the best level in nearly two decades. With the DJIA holding firm overnight (+5.44 points); investors once again flocked to the local equities market.

PSEi previous close 3474.67 - May 31, 2007


time----------------up------------------PSEI
9:31--------------15.57
9:32--------------19.70
9:33--------------23.33
9:34--------------25.73----------------3500.40


In just five minutes, the key 3,500 level was shattered.

9:35--------------27.34
9:36--------------36.17
9:46--------------37.20
9:49--------------43.43----------------3518.10


After 15 more minutes, the all-time high level was eclipsed. Market continued its roll.


9:53--------------47.32
9:55--------------50.82
10:11-------------59.21
10:16-------------71.79
10:36-------------72.33-----------------3547.00


After an hour, the market rests a little bit.


10:45------------67.60
10:47------------64.75
10:59------------63.65
11:03------------69.31
11:04------------70.25
11:06------------65.02
11:08------------72.93------------------3457.60

When a new high was established, the market still pushes higher

11:10-------------74.09
11:18-------------76.83
11:19-------------81.12
11:20-------------81.83
11:27-------------82.37
11:29-------------82.81-----------------3557.48 (the day's high)

The market drifted the last half hour of trading but kept ost of its gains.

11:32-------------73.46
11:37-------------78.36
11:43-------------76.93
11:49-------------71.69
11:51-------------82.12
11:55-------------80.21
11:56-------------79.50
12:01-------------72.68------------------3547.35 (+2.09%)
Market Close.



The Philippine equities market is once again at all-time high levels. Sentiment has been bullish and there are no chart resistances.



But at this point, the market has gone up by around 150 points in just the past two days. With today's jump, a chart price gap has been left opened at the 3474-3490 levels.

Advancers 90
Decliners 25


Value turnover PhP 6.464 bn
Cross transactions PhP 1.806 bn
Block Sales PhP 176 mn


Sector indices were again UP across-the-board
Property +4.75%
Industrial +2.38%
Holdings +2.36%
M-O +2.10%
Services +1.11%
Financial +0.37%


Closing prices of select stocks - June 01, 2007
ABA - PhP 0.013
ALI - PhP 16.75
AR - PhP 0.013
DGTL - PhP 1.58
EIB - PhP 0.55
LOTO - PhP 16.75
MPI - Php 4.40
NRCP - PhP 4.40
SUN - PhP 0.70
V - PhP 1.70
WEB - PHP 0.0525