The day's market - November 08, 2007

DOW JONES INDUSTRIAL AVERAGE summary
Index Value: 13,300.02
Trade Time: Nov 7, 2007
Change: Down 360.92 (2.64%)
Prev Close: 13,660.94
Open: 13,646.72
Day's Range: 13285.63 - 13647.29

PLDT (TEL) ADRs - down $1.95 to close at $68.46 (around PHP 2975)

NY Metal and Oil Report
Gold - up $12.30 to close at $832.60

Ths Philippines' Gross International Reserves (GIR), reached $32.36 bn as of end-October 2007; way past the readjusted goal of only $30 bn this year.

With the big drop in WallStreet, the market immediately dropped as investor confidence again took a hit.

PSEi previous close - 3788.26 (November 07, 2007)

time----------down-----------PSEi
9:31---------48.16-----------3740.10
9:32---------58.19
9:33---------63.57
9:34---------63.70
9:35---------66.49
9:37---------65.52

The Peso was at PhP 43.463 vs the $US.

9:38---------70.83
9:39---------77.59

Advancers 0 Decliners 76. TEL unchanged at PhP 3045.
With TEL opening unchanged the drop was initially tempered. But sellers for TEL already was much lower, so any trade thereafter was sure to drag the market lower.

9:42---------75.40
9:43---------79.03
9:45---------71.69
9:46---------73.60
9:47---------70.61
9:48---------67.06
9:52---------70.51
9:53---------72.80
9:54---------87.41----------3700.85

TEL traded at PhP 3000. The market tests the 3700 support level.

9:58---------89.65

TEL down further to PhP 2995 and market heads lower. The 3700 turns into the immediate resistance level.

9:59--------94.38----------3693.88
10:01-------91.34
10:07-------88.31----------3699.95

10:09-------92.99
10:13-------93.39

Advancers 1 Decliners 98

10:15------91.91
10:19------91.57
10:20------92.88
10:21------94.52
10:22------91.64
10:25------93.30
10:29------94.95

10:34------99.16
10:35-----102.19
10:37-----104.78
10:38-----105.41-----------3682.85 (the day's low)

Advancers 5 Decliners 102.
The markets consolidates its losses in a narrow range for the rest of the trading session and fails to mount a rebound.

10:40-----101.81
10:41-----103.39
10:42------99.97
10:46-----100.58
10:48-----104.48
10:51-----101.48
10:53-----103.12
10:55------98.38
11:00-----101.27
11:01------99.94
11:06-----105.20

Asian equities markets were down.

11:18------98.53
11:27-----100.40
11:32------99.49
11:41-----101.18
11:44------98.15
11:47------96.93
11:48------95.35
11:52------96.93
11:53------98.26
11:55------99.19
11;59------98.93
12:01------96.16----------3692.10 (-2.54%)
Market Close.

Advancers 12
Decliners 111

Value turnover: PhP 4.490 bn
Cross transactions: PhP 1.232 bn

Sectoral Indices fell across-the-board.
Holdings -4.52%
Property -2.52%
Financial -1.96%
Services -1.94%
Industrial -1.63%
M-O -1.12%

The Day's Top Gainers:
GOB: PhP 0.33; +13.79%
DIZ: PhP 12.50; +11.11%
OM: PhP 0.014; +7.67%

The Day's Biggest Decliners:
SLI: PhP 2.60; -10.34%
ABAB: PhP 0.010; -9.09%
SINO: PhP 0.38; -7.32%
APR: PhP 3.25; -7.14%
COL: PhP 13.25; -7.02%

Index Decliners-------------PSEi pts down
TEL: PhP 2985.00; -1.97% ------19.76 pts
AC: PhP 590.00; -6.35% --------24.28 pts

Only Index Gainers:
MA: PhP 0.027; +3.85%
MAB: PhP 0.030; +3.45%