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%