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