The day's market - December 18, 2007

DOW JONES INDUSTRIAL AVERAGE(DJIA)summary
Index Value: 13,167.20
Trade Time: December 17
Change: Down 172.65 (-1.29%)
Prev Close: 13,339.85
Open: 13,339.20
Day's Range: 13158.58 - 13339.45

Another big drop in WallStreet had investors scampering for a way out. And also, because the market was abruptly cut yesterday, there were some pent up selling orders which aggravated the situation.
With asian markets also opening lower, the local equities market immediately drops unmindful of any support levels.

PSEi previous close - 3488.82 (December 17, 2007)

time------------down-----------PSEi
9:31------------42.27----------3446.55

Advancer 1 Decliners 30

9:32------------44.40
9:33------------51.10

9:34------------48.56
9:35------------53.37
9:37------------55.62
9:38------------56.24
9:39------------58.29----------3430.53

PhP 41.983 vs US$ 1.00
Asian markets were down.

9:42------------53.19
9:43------------60.01
9:44------------65.42
9:45------------71.09
9:46------------74.30----------3414.52(the day's low)

The PSEi approaches the 3400 level.

9:48------------72.51
9:50------------71.57
9:51------------65.05
9:53------------62.36----------3426.46

9:54------------70.05
9:55------------66.44
10:00-----------63.53

10:06-----------73.86----------3414.96

Another re test of the 3400 level.

10:08-----------66.02
10:13-----------64.03
10:14-----------62.99
10:21-----------61.72
10:22-----------60.05

10:24-----------57.21
10:26-----------54.49
10:33-----------50.52
10:34-----------49.25
10:39-----------48.26
10:43-----------47.80
10:45-----------46.39
10:48-----------44.57

Advancers 15 decliners 89
Buyers were observed to be coming in the market. Selling also seems to have tapered off as bargain hunters slowly gains confidence.

10:50-----------42.81
10:53-----------40.17
10:54-----------38.95----------3449.87

Advancers 19 Decliners 86
The market tries to hurdle the 3450 level and build a base support.

10:58----------37.02
10:59----------34.61
11:00----------33.30
11:01----------32.97
11:05----------28.08------------3460.74

11:07----------31.52
11:10----------28.55

PhP 42.012 vs US$ 1.00

11:15----------28.20
11:17----------25.59
11:28----------24.87
11:31----------22.74
11:37----------19.74
11:43----------19.59
11:45----------16.73
11:52----------15.95------------3472.87

11:56----------19.79
11:57----------22.05
11:58----------24.38------------3464.44
11:59----------24.33
12:01----------18.61------------3470.21(-0.53%)
Market Close.

Advancers 41
Decliners 66

Value turnover: PhP 5.306 bn
Cross transactions: PhP 2.576 bn

Most asian equities' markets were already up at this point.
PhP 41.997 vs US$ 1.00
The Dow Jones Industrial Average (DJIA) has fallen more than 600 points in the last five trading days. It is currently near the 13000 level.
The day's sudden drop in the Philippine Stock Exchange Index (PSEi) upon the opening bell leaves a chart gap from yesterday that was not fully covered as the bounce back fell short.

Sectoral Indices.
Property +0.77%
M-O +0.71%
Services +0.48%
Industrial -0.99%
Financial -1.10%
Holdings -1.76%

The Day's Top Gainers:
WPI: PhP 0.83; +10.67%
BRN: PhP 1.94; +7.78%
OM: PhP 0.014; +7.69%
PRC: PhP 3.30; +6.45%

The Day's Biggest Decliners:
APR: PhP 2.80; -26.32%
SGI: PhP 0.70; -12.50%
LIHC: PhP 16.75; -6.94%
PAX: PhP 5.40; -6.90%