The day's market - July 31, 2007

The rise in the US markets and month end window dressing had the market upbeat upon the opening bell.

PSEi previous close - 3467.46 (July 30, 2007)

time-------------up-----------------PSEi
9:31------------53.89--------------3521.35

The market breached the 3500 level upon opening of trading.

9:32------------55.26
9:33------------56.47
9:33------------63.73
9:34------------64.23
9:37------------66.14
9:38-----------70.15--------------3537.61

9:41------------59.26
9:43------------64.04
9:44------------73.81
9:48------------78.24------------3545.70 (the day's high)

After a very strong surge in the first twenty minutes, profit taking immediately set in.

9:50-----------71.22
10:05----------67.91
10:11----------64.40
10:12----------61.21
10:13----------60.78
10:16----------59.09
10:21----------55.88
10:23----------54.91
10:24----------51.30

The market falls below its opening levels. Selling continues and the day's gains are eroded.

10:25----------46.97
10:29----------42.14
10:30----------39.38
10:34----------35.36------------3502.82

The market tries to find a support at the 3500 level.

10:35----------38.74
10:36----------42.77
10:40----------37.09
10:43----------33.51-------------3500.97

The 3500 level is still holding.

10:44----------41.54
10:45----------42.45
10:46----------44.85-------------3512.31

10:48----------39.99
10:51----------36.55
10:58----------34.49
11:10----------33.67--------------3501.13

The 3500 level is breached.

11:13----------31.80--------------3499.26
11:18----------31.42
11:19----------25.39
11:21----------25.24
11:24----------23.60--------------3491.06

The market consolidates at the 3500 level for the rest of the trading day as selling pressure somehow eases.

11:25----------26.97
11:27----------29.64
11:32----------28.55
11:39----------32.77---------------3500.23

11:44----------28.21
11:45----------30.07
11:53----------35.80--------------3503.26

11:54----------33.01--------------3500.47
11:55----------35.35
11:58----------35.97
12:01----------33.74--------------3501.20 (+0.97%)
Market Close.

Adavncers 48
Decliners 62

Value turnover: PhP 6.257 bn
Cross transactions: PhP 2.393 bn

Sectoral Indices rebounded across-the-board.
Property +3.06%
Holdings +0.84%
Services +0.64%
Industrial +0.19%
Financial +0.18%
M-O +0.13%



----------------GMA7--------------GMAP
open-----------PhP 11.50----------PhP 11.75
high-----------PhP 11.50-----------PhP 11.75
low------------PhP 10.25-----------PhP 10.50
close-----------PhP 10.75-----------PhP 10.75

Before the market opens - July 31, 2007

Market comments:

BusinessWorld - July 31, 2007

The Dow Jones Industrial Average was up by 92.84 (+0.70%) points last night in WallStreet to close at 13,358.31.

Invitation to be a speaker on the regular weekly meeting of The Rotary Club of Panday Pira Manila. Topic is on "The Outlook of the Philippine Stock Market".

The day's market - July 30, 2007

The sentiment was still negative upon the opening bell. Investors were still very wary of the spillover effect of the large drops in WallStreet.

PSEi previous close - 3518.76 (July 27, 2007)

time-------------down----------------PSEi
9:31--------------28.14-------------3490.62

The 3500 was immediately broken.

9:33--------------33.82
9:39--------------36.40
9:48--------------49.61
9:50--------------53.84
9:58--------------66.11-------------3452.65

The 3450 level was also tested and then broken.

10:18-------------67.04
10:20-------------73.83
10:21-------------74.25
10:29-------------76.36
10:33-------------80.37
10:34-------------84.10-------------3434.66 (the day's low)

After its downward trajectory, the market had a technical bounce to limit losses.

10:36-------------79.16
10:51-------------78.33
11:07-------------75.90
11:10-------------70.58
11:16-------------64.63-----------3454.13

The market again hovers at the 3450 level and hurdles it. It tries to build a support at this level.

11:23-------------55.30-----------3463.46
11:24-------------50.91
11:32-------------45.84
11:38-------------42.67
11:39-------------41.74-----------3477.02

11:59-------------46.97
12:01-------------51.30-----------3467.46 (-1.46%)
Market Close.

Advancers 25
Decliners 101

Value turnover PhP 16.920 bn
Cross transactions PhP 3.274 bn
Block Sales PhP 7.756 bn

The block sales included 867,785,000 shares of GMA7 at PhP 8.50 per share with a total value of PhP 7.376 bn.


Sectoral Indices.

Industrial +0.48%
M-O -1.34%
Holdings -1.65%
Services -1.76%
Financial -1.92%
Property -2.17%


TOP GAINERS:
1. T: PhP6.60; +50.00%
2. GMAP: PhP8.50; +29.41%
3. GMA7: PhP10.50; +23.53%

WORST DECLINERS:
1. ZHI: PhP0.60; -20.00%
2. FED: PhP16.00; -20.00%
3. ATSP: PhP3.00; -14.29%

VALUE TURNOVER:
1. GMAP: PhP2,040 mn (close: PhP11.00; +29.41%)
2. VLL: PhP1,202 mn (close PhP6.20; -4.62%)
3. ABSP: PhP1,020 mn (close PhP36.00; unch)

VOLUME TURNOVER:
1. OV: 660 mn (close: PhP0.023; -4.17%)
2. OM: 440 mn (close PhP0.016; unch)
3. AR: 360 mn (close PhP0.012; -7.69%)



GMA Network Inc. (GMA7) listed today at the exchange after completion of its Initial Public Offering (IPO) at Php 8.50.


GMA7 (GMA Network Inc.)
open PhP 8.70
low PhP 8.70
high PhP 10.50
close PhP 10.50
up 23.53%
Volume: 57,372,000 shares
Value: PhP 561,811,000


GMA Holdings, Inc PDR (GMAP)
open PhP 9.50
low PhP 9.50
high PhP 11.00
close PhP 11.00
up 29.41%
Volume 200,972,000
Value: PhP 2,040,341,3000

Market Matters - July 29, 2007

The Dow Jones Industrial Average (DJIA) continued to post huge losses as it fell by 208.10 (-1.54%) points on Friday and closed at 13265.47 . It was the second straight day of triple digit losses in Wall Street.




Excerpt from interview regarding friday's trade at the Philippine Stock Exchange (PSE).

............"Investor sentiment, already hurt by Wall Street, was aggravated by the (technical) glitch"....................
Source: Philippine Daily Inquirer - July 28, 2007





The week that was : (JULY 23-27, 2007)

----------------LAST WK----THIS WK-----(down)-----(% CHNG)
PHISIX---------3,738.28-----3,518.76-----219.52-----(-5.87%)
HOLDINGS-----2,253.52-----2,068.24-----185.28-----(-8.22%)
INDUSTRIAL---5,133.90-----4,799.22-----334.68-----(-6.52%)
PROPERTY-----1,849.79-----1,696.15-----153.64-----(-8.30%)
FINANCIAL------996.93-------946.68------50.25-----(-5.04%)
MINING-OIL---6,753.70-----6,580.59-----173.11-----(-2.56%)
ALL SHARES---2,421.92-----2,283.23-----138.69-----(-5.72%)


TOP GAINERS:
1. FED: PhP20.00;+81.82%
2. T: PhP4.40;+49.15%
3. VVT: PhP2.90; +45.00%

WORST DECLINERS:
1. JOH: PhP3.00; -30.23%
2. APR: PhP4.00; -28.57%
3. IMP: PhP20.00; -23.08%

VALUE TURNOVER:
1. VLL: PhP2,785 mn (close: PhP6.50; -8.45%)
2. EDC: PhP2,357 mn (close: PhP6.50; -1.52%)
3. ALI: PhP1,994 mn (close: PhP16.50; -8.33%)

The day's market - July 27, 2007

Market Comments from an interview:

............we had a technical bounce influenced by the rebound in the US market but investor confidence remain shaky following the big drop on WallStreet earlier this week......
...............Today's modest gains following a 1.6 percent drop on Wednesday indicate there is still indecisiveness in the market........

..............................It appears confidence is not yet back.......... .......
................Right now were just tracking the movement in US stocks........

Excerpts from an article in The Philippine Star - July 27,2007


WallStreet again suffered a big selldown and the Dow Jones Industrial Average fell by 311.50 (-2.26%) to close at 13473.57. Asian markets instantly followed the downtrend.

PSEi previous close - 3659.68 (July 26, 2007)

The opening was marred by a technical glitch in the PSE system and the opening was delayed.

The pre-open was set at 10:00 am and the market opened at 10:10 am

time-------------down------------PSEi
10:10-------------71.42---------3588.26(-1.95%)

After just about a minute of trading, the system was again halted. AT this point, there was only 1 gainer against 73 decliners with a vluue turnover of PhP 330 mn.

The market resumed trading at 10:54 am (closing was extended to 1:00pm) and the market fall was not stymied.

time-------------down------------PSEi
10:54------------82.81
10:55------------90.28
10:57------------96.31
10:58-----------101.01

The drop is now more than a hundred points and the selling did not abate.

10:59----------106.54
11:14----------112.66

Advancers 4; Decliners 120. The market tries to rebound.

11:26---------109.70
11:42---------100.95
12:07---------95.87

The sell off continued in the last hour of trading.

12:16-------101.99
12:32-------106.56
12:39-------115.26

12:45-------126.10
12:46-------128.40
12:47-------132.58
12:48-------139.07
12:58-------140.57
12:59-------144.04----------3515.64 (day's low)
13:01-------140.92----------3518.76 (-3.85%)
Market Close.

Advancers 8
Decliners 141

Value turnover PhP 6.630 bn
Cross transactions PhP 2.120 bn

Sectoral indices fell across-the-board.
Holdings -5.30%
property -5.24%
Industrial -4.76%
M-O -4.19%
Financial -2.63%
Services -1.95%

The day's market - July 26, 2007

The Dow Jones Industrial Average (DJIA) rose 68.12 points and closed at 13,785.07 overnight in WallStreet.

The modest rebound in the US equities market somehow calmed the jittery investors in the Philippine Stock market. The PSEi traded in a narrow 25 point range with a slight upward bias.

PSEi previous close - 3645.51 (July 25, 2007)

time--------------change--------------PSEi
9:31------------down 0.44------------3645.07
9:32------------------2.68
9:33------------------4.20-----------3641.31 (the day's low)
9:33------------------2.30

After a listless start, the market moves to higher ground.

9:35--------------up 1.83
9:37-----------------5.00
9:39-----------------5.12
9:42-----------------7.09
9:45-----------------7.69
9:46-----------------8.11
9:54-----------------9.03
9:58----------------12.91
10:01---------------13.56
10:08---------------17.39
10:14---------------17.75
10:16---------------18.45----------3663.96

After a slow ascent, the market abruptly corrects; and then tries to climb higher again

10:19------------up 9.18
10:28--------------11.11
10:31--------------13.13
10:36--------------13.70
10:39--------------14.01
10:44--------------17.35
10:45--------------20.49
10:50--------------20.78----------3666.29 (the day's high)

The market now goes into a slow descent.

10:52-------------18.61
10:54-------------16.90
11:09-------------12.32
11:15--------------7.58
11:22--------------6.28
11:28--------------4.63
11:34--------------3.17
11:41--------------0.07-----------3645.58

The PSEi is back to where it started. It however was able to keep itself in the positive territory.

11:42-----------up 0.26
11:43--------------0.76
11:45-------------4.22
11:51-------------4.90
11:52-------------5.60
11:55-----------10.72
11:56-----------11.70
11:59------------7.93
12:01-----------14.17-------------3659.68 (+0.39%)
Market Close.

Advancers 51
Decliners 59

The market remains tentative. The performance of the US equities market may give local investors direction in the next day's trading.

Value turnover PhP 7.107 bn
Cross transactions PhP 2.314 bn

Block Sales PhP 11.440 bn
The block sales included 1.629 bn shares of VLL at PhP 6.85. It has just concluded its shares offer and resumed its trading today.
Vista Land and Lifescapes, Inc. (VLL)
Share Offer price: PhP 6.85
Previous close: PhP 7.10
open: PhP 6.80
high: PhP 6.90
low: PhP 6.60
close: PhP 6.90
Volume turnover: 272,377,000 shares
Value turnover: PhP 1,836,557,100

Sectoral Indices.
M-O +1.85%
Industrial +0.83%
Services +0.61%
Financial +0.20%
Property +0.18%
Holdings -0.59%

TOP GAINERS:
Stock---------------Price-------------% up
KEP--------------PhP 2.90----------18.85%
MIC--------------PhP 8.80----------14.29%
OPMB------------PhP 0.027----------8.00%

BIGGEST DECLINERS:
Stock--------------Price-----------(% down)
BRN--------------PhP 1.96---------(14.78)
FED--------------PhP 18.00--------(14.29)
TDY--------------PhP 3.90---------(9.30)

The Philippine Stock Market falls through the 3700 level as WallStreet drops more than 200 points (July 25, 2007)

The Dow Jones Industrial Average (DJIA) fell by 226.47 (-1.62%) points overnight and closed at 13716.95.

With Fitch Ratings also expressing its disappointment with the first half fiscal performance of the Philippines, investors were rattled and the local equities market suffered a sell down upon the opening bell.

PSEi previous close - 3706.24 (July 24, 2007)

time------------down-------------PSEi
9:31-----------23.10-------------3683.14

The market immediately falls through the 3700 level and a chart gap is opened at the 3683-3706 levels.

9:32-----------23.88
9:34-----------31.21
9:35-----------37.14

9:36------PhP 44.996 vs $ 1.00

9:38-----------37.58
9:39-----------39.23
9:42-----------41.14
9:43-----------44.97
9:44-----------46.75
9:45-----------48.67
9:46-----------49.38
9:47-----------50.51
9:48-----------53.82
9:50-----------56.29-------------3649.95

The 3650 level is broken and the selling still has not abated.

9:52-----------57.28
9:53-----------59.25
9:56-----------59.37
9:57-----------60.52
9:59-----------61.34
10:00---------61.84
10:01---------63.50
10:02---------64.66
10:03---------65.81

At this point, Losers swamped Gainers 92 to 7. There was still no sign of a rebound.

10:04--------66.59
10:05--------67.08
10:06--------67.50
10:08--------67.73
10:09--------68.82

10:11------PhP 45.009 vs $1.00

10:12--------70.12
10:14--------71.10

Advancers 5, Decliners 106

10:21--------71.82

Advancers 4, Decliners 108

10:22--------72.05
10:23--------73.90
10:24--------74.14
10:28--------74.33
10:31--------74.83
10:32--------75.00
10:33--------76.41
10:34--------76.79
10:35--------79.30
10:36--------82.47-----------3623.77

A minor support at 3620 is found after more than an hour of declines.

10:39--------80.98
10:40--------77.01
10:43--------76.07
10:45--------75.38----------3630.86

After that brief respite, the selling resumed.

10:48--------78.47
10:49--------79.27
10:50--------80.92
10:56--------81.92
10:59--------83.54
11:00--------84.32
11:07--------84.65----------3621.59 (day's low)

The 3620 level again held as a support. A minor recovery ensued in the last 45 minutes of trading.

11:15--------77.81
11:16--------76.50
11:26--------75.87
11:38--------75.29
11:42--------72.17
11:43--------71.37
11:50--------69.35
11:51--------64.45
11:52--------61.07------------3645.17

11:54--------63.06
11:57--------63.70
11:58--------63.25
11:59--------60.35
12:01--------60.73-----------3645.51 (-1.64%)
Market Close.

Advancers 19
Decliners 109

Value turnover: PhP 5.517 bn
Cross transactions: PhP 2.285 bn

Sectoral Indices fell across-the-board.
Services -0.57%
M-O -1.13%
Holdings -1.71%
Financial -1.80%
Industrial -2.00%
Property -2.71%

TOP GAINERS:
Stock-----------Price------------% up
FED-----------PhP 21.00-------44.83
LND-----------PhP 1.44----------9.09
BRN-----------PhP 2.30----------8.49

BIGGEST DECLINERS:
Stock-----------Price------------(% down)
APR-----------PhP 4.10---------(25.45)
JTH-----------PhP 22.00--------(12.00)
FAF-----------PhP 1.04----------(10.34)

The day's market - July 24, 2007

The market continued to consolidate albeit with a downward bias despite the rebound in the US equities market. The President's State of the Nation Address (SONA) failed to perk up trading sentiment for the day.

PSEi previous close - 3737.79 (July 23, 2007)

time-------------change---------PSEi
9:31-----------up 4.01----------3741.80 (the day's high)
9:34--------------2.36
9:35--------------0.60

9:36-------PhP 44.756 vs $1.00

9:37----------down 0.86
9:40-------------up 1.61
9:45----------down 1.44
9:52----------------1.10

At this point, Advancers outnumbered Decliners 50 to 20.

9:57------------up 0.35
9:58---------------0.94

9:59---------down 0.21
10:02--------------0.54
10:04--------------0.83

After the first half hour of listless trading, the market's decline accelerated.

10:09--------down 2.47
10:12--------------4.39
10:23--------------6.29
10:33-------------10.27
10:43-------------11.24
10:44-------------12.22
10:45-------------13.20
10:46-------------13.80
10:47-------------14.80
10:48-------------15.32-----------3722.47

The 3720 level tries to hold as a support level.

10:52--------down 14.33
10:59--------------13.49----------3724.30

11:08--------down 15.48
11:10--------------16.27
11:11--------------16.98----------3720.81

The 3720 level was again tested and it fails to hold this time. This again hastens the market's fall.

11:12--------down 17.85---------3719.94
11:13--------------18.07
11:15--------------19.71
11:17--------------21.82
11:18--------------22.86
11:19--------------23.12
11:22--------------26.64
11:23--------------29.14----------3708.65

11:24---------------26.14
11:28---------------27.79
11:30---------------28.72
11:31---------------29.24

11:49---------------25.83
11:54---------------27.63

A much hoped for rally failed to materialize and the PSEi ended at its day's low.

12:01---------down 31.55---------3706.24 (-0.84%)
Market Close.

Advancers 40
Decliners 61

Value turnover PhP 4.349 bn
Cross transactions PhP 1.486 bn

Sectoral Indices.
M-O +0.53%
Property -0.61%
Industrial -0.63%
Holdings -0.80%
Financial -0.82%
Services -0.95%

TOP GAINERS:
Stock-----------Price-------------% up
VVT-----------PhP 2.80--------40.00%
FED-----------PhP 14.50-------20.83%
FJP------------PhP 2.12--------10.42%
LND-----------PhP 1.32--------10.00%
OPMB---------PhP 0.026-------8.33%

BIGGEST DECLINERS:
Stock----------Price----------(% down)
ILI------------PhP 0.99------(8.33%)
KPHB---------PhP 2.40------(7.69%)
OM-----------PhP 0.019-----(5.00%)
APM----------PhP 0.019-----(5.00%)
VITA---------PhP 0.43------(4.44%)

Before the market opens - July 24, 2007

The Dow Jones Industrial Average (DJIA) was up overnight by 92.34 (+0.67%) points in WallStreet to close at 13,943.42



In the News:

The Bureau of Treasury (BTr) sold PhP 18.771 bn worth of 3- and 5-year Retail Treasury Bonds (RTBs) at yesterday's auction.
3-year RTB ---PhP 9.283 bn at a coupon rate of 6.875% (maturity at Aug 1, 2010)
5-year RTB ---PhP 9.488 bn at a rate of 7.125% (maturity at Aug 1, 2012)

The PhP 18.771 bn worth of RTBs was more than double the original offer of PhP 8 bn following increased demand. The scheduled July 30 Treasury bill auction has been canceled.



The Public sector posted an PhP 8.3 bn surplus in the three months to March as against the government's forecast of PhP 48.2 bn deficit.

........."The huge surplus came largely from lower interest payments, lower importation of rice in case of the National Food Authority, and due to governance reforms implemented in the government".........................Finance department

The surplus helps offset the PhP 52 bn 1st-Qtr deficit of the national government.

BusinessWorld - July 24, 2007

The day's market - July 23, 2007

The huge drop in WallStreet effectively stymied the momentum in the local equities market which was built up from Friday's rally. Investors turned wary.

PSEi previous close - 3738.38 (July 20, 2007)

time--------------change---------------PSEi
9:31-9:35--------up 1.38-------------3739.66(day's high)
9:36-----------------0.50
9:37-----------PhP 45.034 vs $ 1.00

With the local currency also weak, the market move into negative territory.

9:38-----------down 1.44
9:39-----------------1.67
9:43-9:45-----------0.53
9:47-----------------2.47
9:49-9:52-----------3.18

Thge mild sell off accelerates.

9:53-----------down 4.34
9:55-----------------6.22
9:56-----------------7.39
9:59-----------------11.19
10:00----------------13.15
10:05----------------13.70
10:10----------------15.08

At this point, Decliners outnumbered Gainers 45 to 29.

10:14----------down 17.60
10:16----------------18.50------------3719.78

The 3720 support is tested and broken.

10:20---------down 19.65
10:23----------------21.15
10:24----------------24.32
10:33----------------24.34
10:34----------------28.64------------3709.64 (day's low)

10:38---------PhP 44.984 vs $ 1.00

When the peso recovered, the market also started to rebound.

10:49---------down 27.08
10:56---------------24.41
10:58---------------22.41
11:10---------------18.76------------3719.52

The 3720 level was tested as a resistance.

11:21---------down 20.79------------3717.49
11:27---------------19.81
11:37---------------15.00------------3723.28

The PSEi moves above the 3720 level and hastened its recovery.

11:39---------down 12.69
11:40---------------10.26
11:41-----------------9.60
11:47-----------------8.97
11:48-----------------7.58
11:51-----------------6.38
11:53-----------------5.78
11:54-----------------3.11------------3735.17

The market made a full retracement from its day's losses and ended flat

11:55------------up 0.06
11:57---------------0.42

11:58---------down 1.64
11:59---------------2.82
12:01---------------0.49-------------3737.79 (-0.01%)
Market Close.

Advancers 47
Decliners 64

Value turnover PhP 3.069 bn
Cross transactions PhP 1.034 bn

Sectoral Indices.
M-O +0.46%
Holdings unch
Industrial -0.03%
Financial -0.07%
Property -0.10%
Services -0.19%

TOP GAINERS:
Stock-----------Price----------% up
ATSP----------PhP 3.50-------16.67%
CYBR--------------0.66--------11.86%
APM---------------0.020------11.11%
FED---------------12.00-------9.09%
WIN----------------0.62-------8.77%

BIGGEST DECLINERS:
Stock----------Price----------(% down)
IMP----------PhP 22.00------(15.38%)
JOH---------------3.65-------(15.12%)
ACR---------------0.94-------(6.00%)
BAL---------------5.60-------(5.08%)
GO----------------0.39-------(4.88%)

Over the weekend - July 21-22, 2007

The Dow Jones Industrial Average (DJIA) fell by 149.33 (-1.07%) points on Friday. WallStreet was not able to sustain its trek above the 14,000 level onto new record levels. It closed at 13851.08.

On the Friday, the peso closed at PhP 44.80 against the US dollar; its highest level since August 2000.

Market comments
............"investors will be looking for leads from President Arroyo's annual address to Congress on Monday. If investors like what they hear, we could challenge the 3,800 level...........
The Philippine Star Business (B-2) - July 21, 2007

The day's market - July 20, 2007

The Dow Jones Industrial Average (DJIA) advanced by 82.19 points in WallStreet to post a new record close at 14,000.41.
The peso was trading below PhP 45.00 against the $US; a seven-year high.

PSEi previous close - 3702.91 (July 19, 2007)

time--------------up-------------PSEi
9:31--------------15.54
9:35--------------17.81----------3720.72

After finding a support at the 3700 level yesterday, strong positive sentiment had the market challenging the 3720 resistance early in the trading day.

9:36-------------22.21
9:40-------------22.46
9:43-------------23.58----------3726.49

9:57-------------21.53
10:02-----------18.33
10:06-----------19.64
10:20-----------24.05
10:21-----------25.51
10:38-----------28.29
10:41-----------29.53----------3732.44

10:51-----------23.36
11:04-----------20.58
11:13-----------19.11----------3722.02

The 3720 level is now a support.

11:26----------24.74
11:31----------30.79
11:43----------34.48

11:49----------29.39
11:53----------27.33-----------3730.24

11:56----------35.21
11:57----------40.62
11:58----------41.80----------3744.71 (day's high)
12:01----------35.37----------3738.29 (+0.96%)
Market Close.

If the US markets continues to establish new highs or manages to hold near the 14,000 level, momentum may carry local equities to challenge the 3750-3800 resistances early next week. President Gloria Macapagal Arroyo's (GMA) State of the Nation Address (SONA) will also be keenly watched for any leads that may influence market movement.

Advancers 78
Decliners 28

Value turnover phP 4.326 bn
Cross transactions PhP 1.944 bn

Sectoral Indices.
Holdings +1.91%
Financial +1.15%
Industrial +1.10%
Property +0.76%
M-O +0.49%
Services -0.13%

The days' market - July 19, 2007

The Dow Jones Industrial Average (DJIA) fell 53.33 points overnight in WallStreet to close at 13, 918.22

The local equities market also followed the downward sentiment. And amid the current correction the market has been in for the past days, renewed budget deficit concerns also weighed down the market.

PSEi previous close - 3734.80 (July 18, 2007)

time----------down-----------PSEi
9:32-----------16.55-----------3718.25

The market immediately fell through the minor support at 3720.

9:34----------21.19

9:43----------14.56
10:03--------18.52

10:15---------10.90-----------3723.90
10:24--------13.42
10:32--------15.32
10:37--------21.59
10:38--------23.82
10:39--------24.28-----------3710.52

10:40--------20.56
10:48--------19.50

10:50-------26.66----------3708.14
10:54-------17.64
10:57-------15.50
10:58--------14.84---------3719.96

The 3720 level has become a resistance point.

11:04--------23.23
11:08--------28.68-------3706.12

11:11---------24.13
11:26--------30.29
11:31--------31.31
11:32--------32.70
11:33-------34.34---------3700.46

The 3700 support is tested.

11:35------35.50
11:44------37.14
11:46------38.38---------3696.42 (day's low)

The last 15 minutes had the market struggling to close above 3700.

11:55------34.81--------3699.99
11:56------30.80
11:58------29.82
12:01------31.89-------3702.91 (-0.85%)
Market Close.

Value turnover PhP 4.599 bn
Cross transactions PhP 1.486 bn

Advancers 22
Decliners 103

Sectoral Indices fell across-the-board.
Property -0.18%
Services -0.33%
Financial -1.00%
Industrial -1.25%
M-O -1.25%
Holdings -1.31%

TOP GAINERS
Stock----------Price-----------% up
B---------------PhP 5.70-------14.00%
ICTV-----------PhP 2.70-------8.00%
ILIB-------------PhP 1.10-------7.84%

WORST DECLINERS
Stock----------Price----------(% down)
FED----------PhP 11.50------(23.33%)
JOH----------PhP 4.10------(16.33%)
IS-------------PhP0.225-----(13.46%)

TOP INDEX ISSUE GAINERS
Stock-----------% up
BEL-----------2.53%
SMPH--------1.92%
SM------------1.16%

WORST INDEX ISSUE DECLINERS
Stock---------(% down)
PCOR---------(4.69%)
MBT----------(4.29%)
JGS-----------(4.00%)
FPH----------(3.37%)
MA-----------(3.23%)

BIGGEST VALUE TURNOVER
Stock--------turnover in PhP-----Price--------(% change)
MBT--------PhP 860 mn------PhP 67.00------(-4.29%)
TEL---------PhP 322 mn-------PhP 2700.00--(-0.18%)
SM----------PhP 301 mn-------PhP 437.50-----(+1.16%)

BIGGEST VOLUME TURNOVER
Stock-------no. of shares---------Price---------(% change)
APM-------584 mn-------------PhP 0.018------(+5.88%)
ABA--------378 mn-------------PhP 0.020-----(-7.69%)
OM---------364 mn-------------PhP 0.019------(-5.00%)

The day's market - July 18, 2007

The market traded in a narrow range as the second and third-liner stocks took centerstage. The PSEi moved within the 3720 (support) and 3750 (resistance) levels.


PSEi previous close - 3729.68 (July 17, 2007)

time----------change------------PSEi
9:31---------down 0.51
9:32---------------1.64

A tentative start. As the smaller cap issues enjoyed brisk trade, sentiment was also buoyed up.

9:33-----------up 4.30
9:35--------------6.24
9:36--------------8.56

9:41--------------8.07
9:43--------------5.92
9:46--------------3.16

9:48--------------9.53
9:49-------------10.02

9:52--------------4.73
9:56--------------2.76

10:06------------5.23
10:11------------8.40
10:12-----------10.05
10:13-----------13.93

At this point, Advancers outnumbered Decliners 56 to 30.

10:34---------up 15.01
10:50------------16.65
10:52------------16.85----------3746.53 (day's high)

10:55------------13.91
11:04-------------9.68
11:17-------------6.66
11:26-------------4.46

11:36-------------7.22
11:43-------------1.73
11:47-------------0.09

The market moves into negative territory.

11:48--------down 0.58
11:50--------------3.58
11:51--------------5.82----------3723.86 (day's low)

Pockets of buying lifts the PSEi to end on the upside.

11:52----------up 2.79
11:58-------------0.64
11:59-------------2.75
12:01-------------5.12-----------3734.80 (+0.13%)
Market Close.

Advancers 73
Decliners 35

Value turnover PhP 4.495 bn
Cross transactions PhP 1.483 bn

Sectoral Indices.
M-O +1.46%
Holdings +0.72%
Services +0.38%
Financial +0.16%
Property -0.28%
Industrial -0.08%

TOP GAINERS
Stock----------Price-----------% up
UW------------PhP 0.41-------46.43%
EVER----------PhP 0.39-------39.29%
GO-------------PhP 0.43-------30.30%
GOB------------PhP 0.43-------26.47%
JOH------------PhP 4.90-------24.05%

WORST DECLINERS
Stock----------Price----------(% down)
ILIB----------PhP 1.02------(8.93%)
ROX----------PhP 2.55------(7.27%)
AR------------PhP0.013-----(7.14%)
HP------------PhP 3.00------(6.25%)
ICTV----------PhP 2.50-------(5.66%)

BIGGEST VALUE TURNOVER
Stock--------turnover in PhP-----Price--------(% change)
PCP---------PhP 470 mn-------PhP 0.69------(+9.52%)
TEL---------PhP 321 mn-------PhP 2705.00--(+0.18%)
EDC---------PhP 313 mn-------PhP 6.50------(unch)

BIGGEST VOLUME TURNOVER
Stock-------no. of shares---------Price---------(% change)
PCP--------679 mn-------------PhP 0.69------(+9.52%)
OM--------518 mn-------------PhP 0.020-----(unch)
AJO--------422 mn-------------PhP 0.14------(+3.70%)

Before the market opens - July 18, 2007

The Dow Jones Industrial Average (DJIA) advanced another 20.57 (+0.15%) points. It however failed to hold above the 14,000 level after touching a high of 14,020 (its intraday low was at 13,940). It closed overnight in WallStreet at 13971.55
source / reference: Bloomberg TV


The Philippine Peso reaches a 7 year high of 45.24 against the dollar on back of strong surges in foreign investment inflows to the stock market.
The peso's advance was bolstered by the general weakness of the dollar which was near record lows against the euro because of worries over the subprime mortgage sector and the US Fed chairman's monetary policy testimony to the US Congress.
source / reference: The Philippine Star Business Pages - July 18, 2007

The day's market - July 17, 2007

The market is currently suffering from a liquidity drain because of the coming IPO (GMA) and secondary offerings (VLL and PNB); all in the next two weeks.

PSEi previous close - 3753.26 (July 16, 2007)

time-----------change------------PSEi
9:31---------up 0.21
9:32------------1.19-------------3754.45 (day's high)

After a very weak attempt at a rally, the market plummetted. Investors and punters concentrated on select second and thirdliner issues.

9:34------down 3.91
9:35------------8.18
9:36-----------11.21
9:38-----------12.62
9:57-----------12.97
10:01----------13.34
10:02----------17.64
10:03----------19.29
10:04----------21.93
10:06----------25.10
10:06----------26.10
10:07----------29.40
10:16----------31.04
10:17----------31.62
10:18----------32.30----------3720.96

The market touched a minor support at 3720.

10:22----------30.83
10:22----------34.30----------3718.96

The 3720 level was broken. The market dropped even lower and consolidated below this level in the next hour.

10:24---down 35.84
10:25---------36.59
10:26---------36.88
10:27---------40.49
10:30---------41.20----------3712.06

At this point, the market moved between the 3710-3720 range.

10:32---down 36.90
10:34---------41.72
10:44---------40.01
10:51---------35.92
10:55---------40.45
10:57---------39.93
10:58---------42.01

The PSEi moves below 3710 and tested the 3700 level.

10:59---down 43.60---------3709.66
11:03---------44.15
11:18---------47.15
11:25---------47.34---------3705.92 (the day's low)

The market limits its losses in the last half hour of trading.

11:26----down 45.05
11:31-----------35.53

11:33-----------37.31
11:41-----------36.02
11:51-----------34.98
11:52-----------34.20
11:56-----------33.70
11:57-----------32.89
11:59-----------29.26
12:01-----------23.58--------3729.68 (-0.63%)
Market Close.

Advancers 31
Decliners 91

Value turnover PhP 4.687 bn
Cross transactions PhP 1.326 bn

Sectoral Indices.
Property +1.26%
Services -0.21%
Industrial -0.84%
Financial -1.26%
Holdings -1.51%
M-O -2.59%

TOP GAINERS:
Stock---------Price-------------% up
JOH----------PhP 3.95--------49.06%
FED----------PhP 12.50-------25.00%
PCP----------PhP 0.63--------23.53%
B-------------PhP 5.00---------7.53%
GO-----------PhP 0.33---------6.45%

BIGGEST DECLINERS:
Stock--------Price-------------(% down)
ZHI---------PhP 0.71----------(13.41%)
MHC--------PhP 0.72----------(10.00%)
TELK-------PhP 10.00---------(9.09%)
JTH---------PhP 25.00---------(7.41%)
BKD---------PhP 1.20----------(6.25%)

MOST ACTIVES:
Value turnover
Stock-------PhP value-------Price-------% up/(down)
AP---------PhP 652 mn------PhP 5.50-----(5.17%)
TEL--------PhP 534---------PhP 2700-----(0.18%)
ALI--------PhP 353----------PhP 18.00-----1.41%
Volume turnover
Stock-------no. of shares-----Price------% up/ (down)
PCP---------568 mn---------PhP 0.63------23.53%
IS-----------532 mn---------PhP 0.27-------3.55%
OM---------460 mn---------PhP 0.020-----(4.76%

Before the market opens - July 17, 2007

The Dow Jones Industrial Average (DJIA) continues its run to newer all-time highs. It advanced higher by 43.73 points (+0.31%) last night in WallStreet to close at 13,950.98.






In the Business News:

BOP posts surplus of $3.1B in H1

The country's balance of payments (BOP) surplus hit $3.1bn in the first 6 months of 2007, rising 56% annually. The June surplus was at $834 mn; as foreign exchange inflows pushed it to a year-high.
In the same period in 2006, the surplus was at PhP2.04bn and reached $3.769 bn by the end of last year.



Net foreign buying in stocks soars 155% to 64.4B in firts half

Net foreign buying for the first half of 2007 in the local equities market reached PhP 64.4 bn (+155%) from PhP 25.26 bn last year.
In June(2007), foreign buying reached PhP 17.83 bn and eclipsed the previous all-time monthly high of PhP 15.96 bn in September 2006.

First half of 2007 compared to first half of 2006:
total foreign buying PhP 358.43 bn (+124.7%) from PhP 159.48
total foreign selling PhP 294.03 (+120%) from PhP 134.22 bn
total foreign trades PhP 652.4 bn (+122.1%) from PhP 293.7 bn
total domestic trades PhP PhP 658.47 (+198.3%) from PhP 220.7

As of end-June 2007, total capitalization is at PhP 8.36 trillion (+16%) from PhP 7.17 trillion at the end of 2006.
The market capitalization of listed domestic companies was at PhP 4.38 trillion (+30.7%) from PhP 3.35 trillion a year ago.



Gov't rejects bids for 182-day, 364-day T-bills
The 91-day T-bill rate rose to 3.625% in yesterday's auction from 3.477% on July 2.
The Bureau of Treasury (BTr) rejected all bids for the 182- and 364- day Treasury bills after banks bid high rates for the papers.

reference / source: Philippine Star Business - July 17, 2007

The day's market - July 16, 2007

The market initially tried to break the 3800 level but the local equities market lacked momentum.
Today also is the listing date of Aboitiz Power Corporation (AP) and many traders / investors concentrated on its trade because of the excitement and buzz recent IPOs had. It was the most actively traded stock.
When it failed to meet investor expectations of big gains on "opening day", and when trading immediately moved close to its IPO price (from its opening high price of PhP 6.20), investor sentiment also soured.

PSEi previous close - 3786.02 (July 13, 2007)

time---------change------------PSEi
9:31---------up 3.61
9:34------------6.76-----------3792.78 (high)

From an opening of PhP 6.20 (IPO price of PhP 5.80), Aboitiz Power Corporation (AP) immediately dropped to PhP 6.00. The market soon lost direction and positive sentiment diminished.

9:36---------up 0.78
9:37------------3.58
9:40------------2.90
9:46------------3.81
9:53------------0.36

The market moves into negative territory and tries to stay close its previous close.

10:01-----down 4.71
10:02-----------1.04
10:06--------up 0.01
10:17-----down 7.16
10:19-----------0.15

The decline accelerated and continue for the rest of the session. At this point AP was trading at PhP 5.80, its IPO price.

10:25----down 8.42
10:29----------9.58
10:40--------17.53
10:47--------17.73
10:48--------19.37
10:50--------20.38
11:12---------23.11
11:16---------23.19
11:25---------24.66
11:28---------25.24
11:36---------29.05
11:42---------35.80----------3750.22 (day's low)

Minor support is presently at 3750.

11:45---down 32.40
11:46---------26.96
11:47---------27.46
11:59---------31.92
12:01---------32.76----------3753.26 (-0.86%)
Market Close.

The chart gap at 3756-3778 was closed.

Advancers 42
Decliners 88

Value turnover PhP 6.853 bn
Cross transactions PhP 1.307 bn
Block sales PhP 2.354 bn (405,869,000 shares of AP at PhP 5.80)

Sectoral Indices.
M-O +0.25%
Financial -0.51%
Industrial -0.60%
Services -0.82%
Holdings -1.14%
Property -1.59%

The day's TOP GAINERS.
Stock---------Close------------% change
PA --------- PhP 0.17 ---------+47.83%
IS ----------PhP 0.26 ---------+18.18%
ICTV ------ PhP 2.65 ---------+15.22%
VVT ------- PhP 2.00 ---------+13.64%
GOB ------- PhP 0.34---------+13.33%

Equity Markets since the Asian Financial Crisis of 1997

Two weeks ago, the performances of the equity markets were compared. But to look at the much larger picture, a comparison of their gains (rebound) since the Asian Financial Crisis of 1997, is made here.

---------------------Dec 30, 1997-----July 15, 2007-----change----% change
Nikkei (Japan)------15259.00---------18238.95--------2979.95-------19.52%
HangSeng (HK)-----10342.40---------23099.27-------12756.89------123.34%
STI (Singapore)------1552.50-----------3654.61---------2102.11-----135.40%
KLSE (Malaysia)------560.96-----------1384.72-----------823.76-----146.84%
Bangkok (Thailand)---372.69------------859.14-----------486.45-----130.52%
Jakarta (Indonesia)---396.53----------2301.60----------1905.07-----480.43%
PSEi (Philippines)--1847.25-------3786.02---------1938.77----104.95%
Seoul (S. Korea)-------376.31-----------1962.93----------1586.12------421.62%
TWSE (Taipei)---------8187.27----------9471.30---------1284.03-------15.68%

DJIA-------------------7679.30--------13907.25---------6227.95--------81.10%

The Dow Jones at a new record close (July 13, 2007)

The Dow Jones Industrial Average (DJIA) was up by 45.52 points on Friday and closed at another record high at 13907.25

US retail sales drop an unexpected 0.9% in June; the worst in two years. Excluding auto sales, the drop would be 0.4%.

June imports rise 1%, due in part to oil prices. Excluding oil, it would be a gain of 0.2%.

So far, corporate buybacks has been fueling the rise in WallStreet; but mutual funds posted outflows.

The day's market - July 13, 2007

The stage has been set to challenge the all-time high level of the Philippine Stock Exchange Index (PSEi) as WallStreet just touched record high levels last night and local borrowing/lending interest rates declined.
Stock prices were bought up upon the opening bell and sentiment was very positive.

PSEi previous close - 3756.75 (July 12, 2007)

time-----------up----------PSEi
9:31----------21.72--------3778.47

The strong opening opened a new chart gap at the 3756-3778.

9:32----------38.28
9:33----------45.72--------3802.47

The 3800 level was easily broken.

9:35----------49.97
9:36----------50.82
9:37----------52.21
9:38----------54.12
9:39----------55.28
9:40----------56.70---------3813.45

The previous high (as adjusted) was challenged.

9:43----------61.47
9:50----------63.80----------3820.55

A new all-time high was set 20 minutes into trading. After such a dizzying run up, the market corrects.

9:57-----------59.88
10:00----------54.25
10:02----------46.53---------3803.28

The 3800 was tested as a support.

10:10----------56.62--------3813.37
10:16----------46.09
10:23----------42.96--------3799.71

The 3800 as a support is still weak. The PSEi declines and investors took it as a cue to take profits after the market's big rise starting from yesterday.

10:21----------42.55--------3799.20
10:30----------40.81
10:35----------38.15
10:47----------37.55
10:50----------36.43-------3793.18

The 3800 level was now a resistance. A final challenge to break it failed and the PSEi drifted lower in the last hour of trading.

10:56----------42.10-------3798.85
11:08----------39.06
11:21----------38.15
11:28----------37.78
11:29----------35.83
11:31----------34.88
11:33----------31.87
11:36----------31.61
11:41----------30.80
11:46----------28.22--------3784.97
11:50----------26.02--------3782.77

It seems the market has found an initial minor support at 3780.

11:53----------28.10
11:54----------31.11
11:56----------29.05
11:58----------27.02
11:59----------22.26---------3779.01
12:01----------29.27---------3786.02 (+0.78%)
Market Close.

Advancers 77
Decliners 48

Value turnover PhP 6.853 bn
Cross transactios PhP 2.391 bn

Sectoral Indices advanced across-the-board.
M-O +1.20%
Services +1.15%
Industrial +1.09%
Financial +0.75%
Property +0.61%
Holdings +0.50%

Closing prices of select stocks - July 13, 2007
ABA - PhP 0.014
ALI - PhP 18.25
DGTL - PhP 1.56
EIB - PhP 0.55
GO - PhP 0.29
GOB - no trade
LOTO - PhP 15.00
MPI - PhP 4.40
NRCP - PhP 4.30
SUN - PhP 1.00
V - PhP 1.86
WEB - PhP 0.060

Before the market opens - July 13, 2007

Market comments

Philippine Star (*the same quote appears in BusinessWorld) - July 13, 2007

The Dow Jones Industrial Average (DJIA) advanced a whopping 283.86 points (+2.09%) to close at13861.73 It is a new all-time record high.

News Updates - July 12, 2007 (10:30PM)

PSEi Revisions
The discrepancy (3696.51 instead of 3704.22) noticed earlier in the previous closing figures of the Philippine Stock Exchange Index (PSEi) was not a computer glitch after all. According to a memorandum to brokers from the PSE, which was posted in its website, it was due to a revision for the period June 25 and July 11 following a review.
The record high of 3822.41 was also revised to 3814.22.
The holding firm's and property indices for the same period were also adjusted. No reason was given for the said adjustments.



Interest rates; Tiering system and Inflation.
The Bangko Sentral ng Pilipinas, in its policy meeting, decided that effective on July 13, the tiering system on placements will be lifted. Under this tiering scheme, (which has been in place since November 2006), lower rates were applied to banks' deposits with the central bank in excess of P5 billion.

The key policy interest rates will also be adjusted to 6% (from 7.5%) for the overnight borrowing and 8% (from 9.75%) for the overnight lending.

This is the first time since October 2005 that the central bank has adjusted its monetary policy.

The Bangko Sentral also expects inflation for the full year to settle at 2.6-3.1 percent, which is below the government's target of 4-5 percent.



Shares close higher on bargain-hunting; Wall St. rebounds
...........Rommel Macapagal, chairman of Westlink Global Equities, said the market seemed to have built a strong support base at the 3,700-level and will be testing the new resistance of 3,750 points in the coming sessions................

source / reference: business.inquirer.net

The day's market - July 12, 2007

Market Comments:BusinessWorld - July 12, 2007

The Dow Jones Industrial Average (DJIA) was up by 76.17 points overnight in WallStreet.
The local equities market rebounded after four days of declines after having found a support at 3700.

PSEi previous close - 3704.22 (July 11,2007)

A computer glitch seems to have affected the system as the previous close reflected was at 3696.51.

time---------up------------PSEi

9:31---------3.64
9:32---------2.01
9:33---------0.47

After a relatively flat start, the market suddenly shot up. Trading remained buoyant and the PSEi maintained its gains.

9:34--------19.07----------3715.58
9:36--------19.78
9:39--------19.78 (Advancers 31 ; Decliners 5)
9:45--------22.46
9:52--------24.64----------3721.15

Initial market resistance at 3720.

9:57--------19.76----------3716.27
10:00-------23.21
10:04-------23.91---------3720.42

The 3720 level was broken and the market continued its ascent.

10:08-------25.11
10:31-------26.36
10:34-------28.32
10:38-------31.68
10:40-------32.31
10:42-------32.90
10:43-------33.77
10:44-------36.42--------3732.93

A slight pullback.

10:46-------31.52
10:50-------33.48

The PSEi now trades at higher intraday levels.

10:53------37.61
10:55------37.99
11:00------39.38
11:03------39.67
11:04------40.89
11:07------42.64
11:08------43.22
11:12------44.01
11:19------45.07
11:24------49.71
11:25------50.59
11:27------52.13

The PSEi breaches the 3750 level.

11:29------54.59---------3751.47
11:43------54.96
11:44------56.55
11:49------58.56

The market closes at its high.

12:01-----60.24--------3756.75 (+1.63%)
Market Close.

Advancers 81
Decliners 38

Value turnover PhP 9.264 bn
Cross transactions PhP 1.657 bn
Block sale PhP 4.214 bn ( 70,248,500 shares of PNB at PhP 60.00)

Sectoral Indices were higher across-the-board.
Property +2.38%
Services +1.58%
Industrial +1.15%
Holdings +1.12%
Financial +0.97%
M-O +0.75%

Closing prices of select stocks - July 12, 2007.
ABA - PhP 0.012
ALI - PhP 18.25
DGTL - PhP 1.56
EIB - PhP 0.55
GO - PhP 0.30
GOB - no trade
LOTO - PhP 15.25
MPI - PhP 4.30
NRCP - PhP 4.25
SUN - PhP 0.95
V - PhP 1.86
WEB - PhP 0.060

The day's market - July 11, 2007

The Dow Jones Industrial Average (DJIA) fell by 148.27 (-1.08%) points overnight and closed at 3501.70. This prompted the local equities market to continue its correction for the fourth straight trading day.

PSEi previous close - 3720.96 (July 10, 2007)

time------------down------------PSEi
9:31------------14.77------------3706.19

The 3700 was tested and the market moved in a narrow range at this level for the rest of the trading day.

9:31-----------21.87-------------3699.09
9:44-----------33.98------------3686.98 (day's low)
10:16----------20.63------------3700.33
10:28---------18.82-------------3702.14
10:45---------20.30------------3700.66
11:00---------27.11-------------3693.85
11:13---------23.50-------------3697.46
11:31---------26.23-------------3694.73
11:52---------13.99-------------3706.97
11:59---------11.80-------------3709.16
12:01---------16.74-------------3704.22
Market Close.

Today's opening drop left another chart gap. If the decline continues, we might be seeing an island reversal chart pattern and could lead to a deeper correction.
A rebound could be seen as covering of a gap opened previously.

Advancers 54
Decliners 66

Phoenix Petroleum had its debut at the Philippine Stock Exchange. It was priced at PhP 9.80 at its Initial Public Offering (IPO).
Today it opened at PhP 14.00, touched a low of PhP 12.25 before settling at PhP 12.75 (+30.10%).
This is a classic example of great demand of shares with little supply. At its IPO, there was a dearth of available shares. There are a total of only 145 mn shares listed and around 98 mn was subject for a one year lock up.

Sectoral Indices.
M-O -1.98%
Industrial -0.73%
Holdings -0.49%
Financial -0.40%
Services - 0.26%
Property - 0.03%

Closing prices of select stocks (July 11, 2007)
ABA - PhP 0.012
ALI - PhP 17.50
DGTL -PhP 1.54
EIB - PhP 0.55
G0 - PhP 0.31
GOB - no trade
LOTO - PhP 15.25
MPI - PhP 4.30
NRCP - PhP 4.25
SUN - PhP 0.92
V - PhP 1.86
WEB - PhP 0.060

The day's market - July 10, 2007

The market continues its consolidation mode but with a negative bias.

PSEi previous close - 3744.05 (July 9, 2007)

time------------change------------PSEi
9:31------------up 1.18-----------3745.23
9:32---------------2.53-----------3746.58 (day's high)

The market's feeble attempt to make inroads in today's trade is very shortlived.

9:33--------down 7.61------------3736.44
9:34-------------13.09
9:37-------------16.46-----------3727.59

9:38--------------8.33-----------3735.72

9:39-------------18.87-----------3725.18

The minor support at 3720 seems to hold. The PSEi then moved in a narrow range above this level.

9:40------down 16.21
9:41-------------14.88
9:44-------------14.51----------3729.54

9:45-------down 18.26----------3725.79
9:46-------------17.55
9:48-------------18.54
9:49-------------16.59
9:50-------------15.65

At this point, activity in the second and third liners pick up.

9:52------down 12.63 (Advancers 29; Decliners 33)
9:59------------12.63 (Advancers 32; Decliners 33)

The market tries to rally in the next half hour on back of brisk trading in the smaller cap issues.

10:00-----down 6.68------------3731.37
10:01-----------6.36 (Advancers 32; Decliners 30)

10:06----------8.41
10:07----------6.76
10:08----------5.00
10:11-----------4.43 (Advancers 40; Decliners 38)

10:14-----down 7.10 (Advancers 45; Decliners 37)
10:26-----------5.75
10:28-----------5.08------------3738.97

The market encounters a resistance at 3740. In the next half hour it trades between the 3730 - 3740 range.

10:30-----down 6.44
10:38-----------9.73
10:39----------10.39
10:40----------11.67
10:42----------12.58------------3741.47

Decliners now lead Advancers at 51 to 44.

10:47-----down 7.18
10:53---------10.11
10:55---------10.63
10:58---------11.73
10:59---------12.14
11:02---------13.80-----------3730.25
-
11:03-----down 9.49
11:04-----------8.83-----------3735.22

11:06-----down 13.35
11:07-----------14.24
11:14-----------14.99
11:15-----------16.11
11:23-----------17.34----------3726.71

The market tries to stay above 3730.

11:24------down 13.75--------3730.30
11:29------------14.42
11:30------------15.22
11:39------------13.06
11:40------------12.56
11:42------------11.41--------3732.64

A mild sell off in the last 10 minutes of trade had the market close at its day's low.

11:50------down 13.30
11:53------------14.49
11:55------------14.95
11:56------------15.08
11:57------------18.89
11:58------------20.42
12:01------------23.09---------3720.96 (-0.62%)
Market Close.

Advancers 43
Decliners 73

Value turnover PhP 22.585 bn
Cross transactions PhP 1.860 bn
Block Sales PhP 17.186 bn

The block sale included the secondary offer of 3 billion shares of EDC at PhP 5.70

Sectoral Indices were down across-the-board.
Property -1.14%
Financial -1.03%
Holdings -0.55%
Services -0.43%
Industrial -0.13%
M-O -0.13%

Closing prices of select stocks - July 10, 2007
ABA - PHP 0.013
ALI - PhP 17.50
DGTL - PhP 1.58
EIB - PhP 0.55
GO - PhP 0.29
GOB - PhP 0.30
LOTO - PhP 15.50
MPI - PhP 4.25
NRCP - PhP 4.30
SUN - PhP 0.91
V - PhP 1.82
WEB - PhP 0.060

Before the market opens - July 10, 2007

The Dow Jones Industrial Average (DJIA) was up by 38.29 (+0.28%) overnight to close at 13,649.97.


Filipino Optimism
A survey (May 2-31) done by credit card giant MasterCard Worldwide cites that Filipino consumers are more upbeat and are expecting better income and economic conditions in the next six months; sharing the strong optimism in other Asia-Pacific markets.
The Philippines scored 64.6 in the latest MasterIndex of Consumer Confidence compared to 57.2 six months ago; 51.9 a year ago and the historical average of 49.5 since the survey started covering the country 12 years ago.
reference / source: BusinessWorld - July 10, 2007

The day's market - July 09, 2007

The Local equities market moved sideways in arange 20 points above and 20 points below its previous close.

PSEi previous close - 3758.84 (July 6, 2007)

time-------------change-------------PSEi
9:31-----------up 11.69------------3770.53

The market opened on a bright note. Advancers immediately dominated Decliners 22 to 2.

9:32-----------up 10.54
9:33---------------11.41
9:34---------------13.38
9:35---------------15.32
9:37---------------17.92
9:38---------------20.36-----------3779.20 (day's high)

The 3780 - 3800 level proves to be the market resistance. The PSEi retreats.

9:40----------up 14.02
9:45-------------13.39
9:46-------------12.80
9:48-------------11.96
9:50-------------11.66
9:51-------------10.68
9:53--------------8.50
9:59--------------6.80-------------3765.64

The market attempts a feeble rally.

10:05---------up 7.70
10:11-----------11.36
10:14-----------12.17--------------3771.01

The uptrend has lost steam and the declines continues.

10:19---------up 10.80
10:22------------6.82
10:23------------4.94
10:27------------1.05---------------3759.89

The 3760 level was tested as the market was undecided whether to stay in positive territory or continue its correction.

10:28---------down 0.81
10:35---------------0.81
10:37---------------0.52
10:40---------------1.02
10:41------------up 2.00
10:43----------------0.30

After briefly consolidating, the market falls as sellers began to overwhelm buyers.

10:44--------down 2.86
10:44--------------7.66
10:54--------------7.82
10:57-------------10.07----------3748.77

The 3750 support was broken.

11:00--------down 12.82
11:01--------------13.24
11:02--------------15.50
11:09--------------20.27----------3738.57 (day's low)

The market consolidates in the negative territory for the rest of the trading session, ignoring the gains in the other asian markets.

11:11--------down 19.40
11:14--------------15.43
11:19--------------13.92
11:23--------------17.92
11:26--------------19.99----------3738.85
11:32--------------18.06
11:37--------------19.20
11:44--------------18.22

11:48--------down 15.10
11:49--------------14.35
11:51--------------16.00
11:53--------------14.99
11:55--------------18.78
11:56--------------15.60
11:57--------------14.88
11:58--------------10.10
11:59---------------9.73-----------3749.11
12:01--------------14.70-----------3744.05 (-0.39%)
Market Close.

Advancers 44
Decliners 64

Value turnover PhP 3.213 bn
Cross transactions PhP 1.037 bn

Sectoral Indices.
Services -1.14%
Property -0.35%
Financial -o.32%
Industrial -0.17%
Holdings +0.33%
M-O +1.32%

Closing prices of select stocks - July 09, 2007
ABA - PhP 0.012
ALI - PhP 17.50
DGTL - PhP 1.56
EIB - PhP 0.56
GO - PhP 0.30
GOB - no trade
LOTO - PhP 15.50
MPI - PhP 4.30
NRCP - PhP 4.35
SUN - PhP 0.92
V - PhP 1.82
WEB - PhP 0.060

Market Matters - July 7, 2007

The Dow Jones Industrial Average (DJIA) was up by 45.84 (+0.34%) on Friday to close at 13611.68.
US unemployment rate is unchanged at 4.5% in June. Jobs created were better than expected as payrolls rise by 132,000. Wages gain.
Oil prices rise on concerns that unrest in Nigeria may damage exports.
Source: Bloomberg TV

* An analyst interviewed in Bloomberg also presented his technical analysis of the Dow Jones Industrial Average (DJIA). He said that the chart with the indicators he is using as his refernece is signalling a significant reversal in about 1 1/2 to two weeks time. Though the DJIA may even reach 14,000, he sees a correction of up to 23% that will run for 6 to 8 months. The US equities market has been on the uptrend for more than 50 months now. The analyst says that the decline taht may come is just a healthy correction of the extended run up and is not an indication of a coming bear market.

It would be interesting to see how WallStreet performs up to the end of the year and how its movement will affect the Philippine Stock Market in the same time frame.



In the News:

Forex Reserves
The country's Gross International Reserves (GIR) rose further to a historic high of $26.4 bn in end-June (the previous all-time high was at $25.6 bn in May). The Bangko Sentral ng Pilipinas reported foreign capital continued to flow into the economy.
The figure is close to hitting the high-end of the full-year target of between $26-$26.6 bn.
The GIR in June is equivalent to 4.9 months worth of imports of goods and payment of services. It is also equivalent to 5.3 times the country's short-term, foreign currency-denominated debt based on original maturity and 2.8 times based on residual maturity.

Budget Spending and the Deficit
The Philippine National Government spent PhP 41.9 bn less than what is programmed in the first half, and the lower-than-expected spending helped rein in the budget deficit, according to the preliminary data from the Department of Finance.
For the period up to June, PhP 547.4 bn has only been spent vs he PhP 589.3 bn allocated for operations, infrastructure, social services and other expenditures. This was mainly attributed to the strong peso and the low interest rates, which reduced the government's debt servicing cost.
As a result, the budget deficit in the first half was estimated to have stood at just PhP 37.7 bn. Had the government spent as programmed, the deficit would have been PhP 79.6 bn. The full year target is at only PhP 63 bn.
Source/Reference: Philippine Daily Inquirer - July 7, 2007


The week that was - July 2- 6, 2007

---------------------last wk. -------this wk -------(+/-) -------(%chng )
PHISIX ----------3,665.23------3,758.84-----(+93.61)----(+2.55% )
HOLDINGS ------2,194.41-------2,270.07----(+75.66)----(+3.44% )
INDUSTRIAL ---5,148.42-------5,159.29-----(+10.87)---(+0.21% )
PROPERTY-------1,788.37------1,840.34-----(+51.97)----( +2.90% )
FINANCIAL------922.06--------1,012.30-----(+90.24)----(+9.78% )
MINING-OIL-----6,503.23------6,792.89-----(+289.66)---(+4.45% )
ALL SHARES -----2,361.15------2,411.33------(+50.18)----( +2.12% )

TOP GAINERS:
1. APR: PhP7.00;+75.00%
2. PA: PhP0.0525;+64.06%
3. ILI: PhP1.30; +44.44%

WORST DECLINERS:
1. WIN: PhP0.45; -16.67%
2. PRC: PhP3.35; -16.25%
3. DHC: PhP5.20; -13.33%

VALUE TURNOVER:
1. ALI: PhP3,496 mn (close: PhP17.75; +1.43%)
2. TEL: PhP1,913 mn (close: PhP2,715.00; +2.45%)
3. AC: PhP1,127 mn (close: PhP565.00; +3.67%)

The day's market - July 06, 2007

The Dow Jones Industrial Average (DJIA) was down by 11.46 (-0.08%) points and closed at 13565.84.

The last minute surge from yesterday may be attributed to the better than expected June inflation figures.


The cost of goods and services in the Phlippines generally moved down a bit in June and allowed inflation to average lower to 2.3% from 2.4% in May. It was at the lower range of the 2.2% - 2.9% initial expected figures. The resumption of the school calendar (and higher tuition fees) and world oil-price hikes were earlier feared to ramp up inflation in June.
....................."the impact of higher world oil prices and ample liquidity were tempered by the positive effects of the strong peso and generally favorable food supply conditions"....................
------------Banko Sentral ng Pilipinas Governor Amando M. Tetangco Jr.

The 2.3% inflation in June brings the year-to-date inflation rate to 2.6%, "still below the Development Budget Coordination Committee target of 4.0% to 5.0%" according to the National Economic and Development Authority (NEDA)
source/reference: BusinessMirror July6-7, 2007



PSEi previous close - 3802.32 (July 05, 2007)

time-------------change------------PSEi
9:31-------------up 16.80-----------3819.12
9:32----------------19.38
9:38----------------20.09-----------3822.41 (new all time high)

The market established a new high, as strong momentum from yesterday's closing buying spree spilled over to today's initial trades. But the euphoric run up dissipates after the first minutes of the trading day, and a correction soon set in.

9:41-------------up 15.40
9:42----------------13.48
9:43----------------11.88
9:45----------------10.94
9:48-----------------8.25
9:52-----------------4.48
9:54-----------------3.90
9:55-----------------2.79
9:56-----------------2.30
9:58-----------------0.74------------3803.06

The 3800 level was immediately broken.

10:01--------down 14.08-------------3788.24
10:02--------------16.38
10:04--------------18.73-------------3783.59

The market tries to hold at the 3,780 level and stay within sight of the 3,800 level. At this point, advancers still outnumbered decliners 46 to 34.

10:14--------------14.92
10:21--------------13.06------------3789.26

10:24--------------17.34
10:28--------------24.19------------3778.13

10:30--------------22.87
10:31--------------19.77
10:36--------------18.16------------3784.14

Selling soon took over in the last hour and a half of trading. The market now corrects from the surprising "50 point run up in the last 7 minutes" in yesterdays trading. A huge run up in such a short period is usually very difficult to sustain and a retracement is needed.

10:46--------down 23.61-------------3778.71
10:52--------------24.19
10:58--------------26.98
11:04--------------27.00
11:08--------------27.57
11:09--------------29.40
11:10--------------31.72
11:14--------------32.44
11:18--------------34.49
11:22--------------36.27
11:30--------------40.82
11:32--------------43.98-------------3758.34

The PSEi settles just above the 3750 level.

11:39--------down 41.59
11:42--------------39.02
11:43--------------36.31
11:45--------------35.77-------------3766.55
11:48--------------40.31
11:52--------------35.54
11:58--------------40.10
11:58--------------44.06
11:59--------------45.03------------3757.29 (day's low)
12:01--------------43.48------------3758.84 (-1.14%)
Market Close.

Advancers 40
Decliners 87

Value turnover PhP 4.20 bn
Cross transactions pHp 1.75 bn

Sectoral Indices.
Property -2.92%
Holdings -1.70%
Industrial -0.87%
Financial -0.47%
Services -0.02%
M-O +0.23%

Closing prices of select stocks - July 06, 2007

ABA - PhP 0.012
ALI - PhP 17.75
DGTL - PhP 1.56
EIB - PhP 0.56
GO - PhP 0.32
GOB - PhP 0.33
LOTO - PhP 15.50
MPI - PhP 4.30
NRCP - PhP 4.30
SUN - PhP O.94
V - PhP 1.82
WEB - PhP 0.060

The Philippine Stock Exchange Index tops the 3800 level - July 05, 2007

Market comments:

From the Philippine Star . (* the same quote appears in the BusinessWorld) - July 05, 2007

The US equities and bonds markets were closed for their Independence Day (Fourth of July) Holiday.

PSEi previous close - 3731.66 (July 04, 2007)

The local equities market started listlessly as it lacked direction and it just continued its consolidation mode from yesterday.

time------------change-----------PSEi
9:31----------down 0.86
9:32------------up 0.59
9:33----------down 1.02
9:34------------up 0.59
9:35---------------3.68
9:37---------down 0.61
9:38-----------up 3.81
9:39--------down 0.39
9:40----------up 0.31
9:44--------down 0.07
9:45----------up 4.23
9:47-------------1.69
9:53-------------0.78----------3732.44

Despite the narrow range of trading as the Philippine Stock Exchange Index (PSEi) finds a base support at 3730, the sentiment in the market was upbeat. At this point, Advancers already outnumbered Decliners 44 to 10.

The market picked up a bit in the next half hour.

9:55---------up 4.28
9:58------------6.85
10:03-----------8.89
10:07-----------9.18
10:13-----------9.24-----------3740.90
10:16----------10.85
10:20----------14.52
10:21----------15.16
10:22----------16.19
10:28----------20.25----------3751.91

For the next half hour or so of trading, the index consolidates at the 3750 level.

10:33-------up 17.39----------3749.05
10:36-----------17.65
10:44-----------17.10
10:46-----------17.59
10:48-----------17.67
11:00-----------17.71
11:01-----------18.85---------3750.51

The market goes past the 3750 level and challenges the 3760 all time high level.

11:14---------up 20.00-------3751.66
11:16------------24.65
11:18------------24.69
11:31------------25.51
11:33------------29.59-------3761.25
11:36------------30.98
11:37------------35.18-------3766.84

After touching a new high, the market pulls back as the trading day nears its end.

11:44--------up 34.68-------3766.34
11:48-----------25.21
11:53-----------22.94-------3754.60

The market seemed to settle at the 3750 level. But a huge buying surge in the last few minutes caught everyone by surprise.

11:54-------up 25.67
11:55----------26.00
11:56----------29.28--------3760.94
11:57----------35.57--------3767.23
11:58----------43.27--------3774.93
11:59----------59.99--------3791.65
12:01----------70.66--------3802.32 (+1.89%) NEW ALL TIME HIGH
Market Close.

Advancers 93
Decliners 32

Value turnover PhP 5.293 bn

Sectoral Indices were higher across-the-board.
Property +3.29%
M-O +3.25%
Industrial +2.00%
Holdings +1.63%
Financial +1.23%
Services +0.96%

Closing prices of select stocks - July 05, 2007
ABA - PhP 0.012
ALI - PhP 18.00
DGTL - PhP 1.60
EIB - PhP 0.56
GO - PhP 0.32
GOB - PhP 0.35
LOTO - PhP 15.50
MPI - PhP 4.40
NRCP - PhP 4.35
SUN - PhP 1.00
V - PhP 1.84
WEB - PhP 0.060

The day's market - July 04, 2007

The Dow Jones Industrial Average (DJIA) was up 41.87 points overnight in WallStreet and closed at 13577.30.
After going up the last four trading days by more than 4% and reaching new all time high levels, the Philippine Stock Market consolidates.


PSEi previous close - 3751.99 (July 03, 2007)

Momentum tried to carry the market higher in the opening minutes of trading.


time-------------change--------------PSEi
9:31-----------up 2.73 --------------3754.72
9:32--------------7.30 --------------3759.29 (the day's high)
9:36--------------4.28
9:38--------------5.26


After failing to reach higher levels (3760 which was yesterday's high, is the current resistance); the market moves into negative territory.


9:44--------down 3.52
9:45--------------6.25
9:52--------------1.81-------------3750.18


The 3750 level support holds for the moment and the market tries to rise again.


9:54----------up 4.79
9:58-------------3.61
10:06-----------0.04--------------3752.03

The upward trend falters and markets moves into a correction mode.

10:10-----down 0.37
10:17-----------3.58
10:24----------11.31
10:29----------14.41---------------3737.58

Market consolidates in a narrow range for the rest of the trading session.

10:37----down 12.98
10:39----------11.51
10:46----------10.60
10:48-----------9.95
10:59-----------8.12---------------3743.87

11:21-----down 15.44
11:35-----------12.69

11:41-----------16.68
11:47-----------15.29

11:52-----------13.37
11:53-----------16.46
11:57-----------17.65
12:01-----------20.33-------------3731.66 (-0.54%)
Market Close.

The market ended at its day's low. It settled at 3730, which was the previous all time high.

Advancers 80
Decliners 42

Value turnover PhP 4.372 bn
Cross transactions pHp 1.753 bn

Sectoral Indices.
Holdings +1.48%
M-O +1.42%
Services -0.28%
Property -0.68%
Financial -0.94%
Industrial -1.46%


Closing prices of select stocks - July 04, 2007
ABA - PhP 0.012
ALI - PhP 17.75
DGTL - PhP 1.60
EIB - PhP 0.56
GO - PhP 0.34
GOB - PhP 0.34
LOTO - PhP 15.50
MPI - PhP 4.45
NRCP - PhP 4.35
SUN - PhP 1.04
V - PhP 1.84
WEB - PhP 0.060

The Philippine Stock Market now trading at new all time high levels - July 03, 2007

The momentum from yesterday's rise (index wise at least) and the huge gains in WallStreet overnight had the market jump from the opening bell.

PSEi previous close - 3691.68 (July 02, 2007)

time---------------up--------------PSEi
9:31---------------20.42---------3712.10

The 3700 level was easily breached. With this strong opening, a chart gap at 3691-3712 was opened.

9:33---------------26.40
9:34---------------27.43
9:35---------------29.73
9:38---------------29.84
9:39---------------35.73
9:40---------------36.84----------3728.84

A few minutes into trading and the PSEi was already challenging its previous all time high at 3730.

9:41---------------40.46----------3732.14

With the market at new all time highs territory, it paused from its strong advance and just consolidated above the 3730 level (with 3740 as a resistance) in the next half hour of trading.

9:42--------------44.71
9:43--------------45.29
9:45--------------47.86
9:47--------------48.51
9:49--------------49.20-------------3740.88

9:54--------------44.91
9:55--------------38.25-------------3729.93

9:57--------------44.55
10:08------------47.69-------------3739.34

For the rest of the day's trading, the market moved a level higher but just traded near the 3750 level. It moved within the 3740-3760 range.

10:10------------53.89------------3745.57
10:11------------57.54
10:12------------61.00
10:13------------63.52------------3755.20

10:20------------58.69
10:37------------54.19
10:40------------60.43-----------3752.11

10:45------------52.20-----------3743.88

10:52------------54.54
10:53------------60.35
10:55------------62.54-----------3754.22

10:58------------57.14
10:59------------56.36-----------3748.04

11:00------------61.76
11:01------------62.33
11:02------------63.95-----------3755.63

11:04------------59.35
11:16------------58.05------------3749.73

11:20------------61.43------------3753.11

11:23------------51.75------------3743.43

11:29------------55.17
11:33------------59.45
11:37------------62.25
11:39------------65.32------------3757.00

11:43------------60.29------------3751.97
11:49------------64.62
11:51------------67.69
11:52------------68.81------------3760.49 (new all time high)

11:56------------63.37
11:57------------61.48
11:58------------58.21
12:01------------60.31------------3751.99 (+1.63%)
Market Close.

Advancers 106
Decliners 24

Value turnover PhP 5.955 bn
Cross transactions PhP 2.929 bn

Sectoral indices were up across-the-board.
Property +3.05%
M-O +2.22%
Services +1.94%
Industrial +1.21%
Holdings +0.95%
Financial +0.36%

Closing prices of select stocks - July 3, 2007
ABA - PhP 0.012
ALI - PhP 17.75
DGTL - PhP 1.60
EIB - PhP 0.55
GO - PhP 0.30
GOB - PhP 0.31
LOTO - PhP 15.25
MPI - PhP 4.40
NRCP - PhP 4.35
SUN - PhP 0.96
V - PhP 1.84
WEB - PhP 0.060

Before the market opens - July 3, 2007

The Dow Jones Industrial Average (DJIA) was up by 126.81 (+0.95%) points overnight in WallStreet. It closed at 13,353.43.


Philippine Treasury Bills were up yesterday at the resumption its auction after the Bureau of Treasury (BTr) suspended the sale in June.
91-day ----------3.477% from 2.996%
182-day---------4.639% from 4.274%
0ne year--------5.438% from 5.174%

The tenors' rise reflected concerns on the governments ability in meeting its budget deficit targets; due to lower collections in the BIR & Customs for the 1st half of the year. Local debt borrowing, is one of the options to cover any shortfall and this may put pressure on interest rates.

The Bangko Sentral ng Pilipinas (BSP) purchased more than $2 bn from the foreign exchange (FX) market in May alone to hold back the peso appreciation.
As of May, the BSP reported Gross International Reserves (GIR) of $25.80 bn, which was more than $700 mn more than end-April's $25.08 bn.

The day's market - July 02, 2007

The market opened generally weak and directionless in the first thirty minutes of trading.

PSEi previous close - 3665.23 (June 29, 2007)

time------------change--------------PSEi
9:31---------down 7.66-------------3657.57
9:34---------------8.11-------------3657.12 (day's low)
9:38---------------0.27
9:40---------------1.87
9:43-----------up 0.57
9:45---------------1.35
9:46---------down 3.41
9:47------------up 0.13
9:55---------down 5.95

The Philippine Stock Exchange index (PSEi) however slowly picked up as index issues turned higher. The second and thirdliner issues were however being sold down.

10:00---------up 6.79
10:10------------7.00
10:15------------9:42
10:16-----------14.47
10:19-----------18.59---------------3683.82

The market hovers at the 3680 level.

10:26--------up 17.77
10:45-----------11.40--------------3676.63
10:48-----------16.09
10:51-----------17.61
11:01-----------16.68
11:04-----------17.31
11:14-----------20.70--------------3685.93

The support at 3680 held today.

11:14--------up 15.13
11:19-----------14.53--------------3679.76

The index closed strong in the last 15 minutes of the trading day.

11:45--------up 20.66
11:49-----------22.97
11:55-----------27.20
11:56-----------29.33
11:58-----------32.32---------------3697.55 (day's high)

11:59-----------30.32
12:01-----------26.45---------------3691.68 (+0.72%)
Market Close.

The PSEi is currently testing the 3,700 level but sentiment is mixed as the sell down in the second and thirdliners showed signs of panic. Some investors seem to be concerned that some issues that experienced recent strong run ups, may be subjected to investigations.

Decliners heavily outnumbered gainers despite the day's gains.

Advancers 31
Decliners 114

Value turnover PhP 4.602 bn
Cross transactions PhP 2.042 bn

Sectoral Indices.
Financial +1.87%
Holdings +1.08%
Property +0.28%
Services -0.04%
Industrial -0.63%
M-O -2.64%

Closing prices os select stocks - June 29, 2007
ABA - PhP 0.012
ALI - PhP 17.00
DGTL - PhP 1.62
EIB - PhP 0.54
GO - PhP 0.28
GOB - PhP 0.30
LOTO - PhP 14.50
MPI - pHp 4.40
NRCP - PhP 4.40
SUN - PhP 0.90
V - PhP 1.80
WEB - PhP 0.0575