The day's market - December 07, 2007

DOW JONES INDUSTRIAL AVERAG(DJIA) summary
Index Value: 13,619.89
Trade Time: Dec 6
Change: Up 174.93 (1.30%)
Prev Close: 13,444.96
Open: 13,445.85
Day's Range: 13426.18 - 13632.25

The local equities market rode on its momentum to tread on higher ground. Another huge rise in WallStreet had investors jumping into the market early in the trading session.

PSEi previous close - 3733.96

time----------------change------------PSEi
9:31-------------up 23.92-----------3757.88
9:32----------------27.48
9:34----------------33.59
9:35----------------36.57
9:42----------------33.68
9:50----------------32.25
9:57----------------37.52
10:00---------------38.52-----------3772.48 (day's high)
10:06---------------32.86
10:22---------------34.68

A computer glitch again occured and the system was not computing the PSEi properly. It was displaying an absurd 160 point drop in the market for some time.

10:36------------up 25.46
10:56---------------23.11
11:02---------------21.29
11:04---------------14.73----------3748.69

The market goes below the 3750 level. The sentiment has reversed and cautious investors turned sellers. With an hour of trading to go before the weekend; profit taking also dragged the market lower.

11:06------------up 14.01

PhP 41.754 vs US$ 1.00

11:07------------up 12.79
11:09---------------10.96
11:10----------------9.44
11:10----------------6.72
11:11----------------4.87
11:13----------------3.21
11:14----------------2.76
11:21----------------0.91
11:22-----------down 1.54

With the market moving to negative territory; it caused some concerns and inquiries were made if there were new "developments" in the political front.

11:23-----------down 6.13
11:29----------------8.16
11:33----------------9.88----------3724.08
11:35----------------3.10

The market however does not move lower and recovers.

11:45-----------down 1.51
11:46-------------up 1.49
11:48----------------4.37
11:51----------------6.81
11:55----------------1.38
11:56-----------down 2.19
11:59-------------up 4.33
12:01---------------11.43----------3745.39 (+0.31%)
Market Close.

Advancers 53
Decliners 60

Value turnover: PhP 4.820 bn
Cross transactions: PhP 1.661 bn

Some investors are trying to speculate on a possible interest rate cut by the US Federal Reserve Board next week(and possibly by the Bangko Sentral ng Pilipinas also later on). A rate cut locally, can bring in more liquidity to our financial system that may be channeled to equities. With interest rates and the US dollar going down, the stock market becomes a more attractive investment for investors.
But barring any more turmoil, political upheavals and other major surprise; the year-end rally in the Philippine Stock Market is on its way with the 3800 level its near term target.

Sectoral Indices.
Financial +1.37%
Holdings +0.70%
Property +0.67%
Services -0.05%
M-O -0.61%
Industrial -1.17%

The Day's Top Gainers:
MRC: PhP 0.63; +14.55%
BC: PhP 18.00; +12.50%
ETON: PhP 4.70; +10.53%

The Day's Biggest Decliners:
JTH: PhP 30.00; -20.00%
LSC: PhP 1.52; -10.59%
DHC: PhP 9.00; -10.00%