Trading in the Philippine Stock Exchange before the Christmas break (2007)

Market comments:
BusinessWorld - December 21, 2007

The Philippine Star - December 21, 2007


Overnight, the Dow Jones Industrial Average (DJIA) was up by 38.37 points and closed at 13,245.64

The Bangko Sentral ng Pilipinas (BSP) reduced interest rates by 25 basis points. Its borrowing rate is now at 5.25% and its lending rate at 7.25%. The reduction was the third in a series since October this year.

Without the drag of WallStreet declining, the local equities market had a rally to close strong for the long four-day Christmas break.

PSEi previous close - 3491.96 (December 20, 2007)

time----------up---------PSEi
9:31---------5.18--------3497.14

Advancers 16 Decliners 4

9:32---------6.86
9:33--------10.38-------3502.34

The 3500 level was broken and the market manages to move higher and the Santa Claus rally was on.

9:34--------10.01-------3501.97
9:35--------13.91
9:36--------14.51

PhP 41.734

9:37--------15.79
9:38--------16.44
9:39--------18.24

Advancers 33 Decliners 8

9:40--------20.86
9:41--------21.29
9:42--------22.73
9:43--------23.18
9:46--------22.97
9:46--------28.87-------3520.83

The market consolidates just below the 3520 level.

9:47--------24.81
9:49--------25.25
9:53--------26.65
9:55--------27.19
9:57--------27.73
9:59--------29.96
10:02-------28.10
10:04-------27.19
10:06-------27.58

The market moves above the 3520 level.

10:07-------30.31--------3522.27
10:08-------33.01
10:10-------33.38
10:11-------36.25--------3528.21

Advancers 50 Decliners 10

10:12-------35.97
10:13-------37.01
10:19-------36.76
10:20-------38.47
10:23-------35.75
10:26-------34.44
10:30-------33.76
10:36-------34.31

Advancers 56 Decliners 19
Value turnover at this point is at only PhP 758 mn

10:39-------38.96
10:43-------40.31
10:45-------41.20
10:47-------42.17
10:08-------40.69
10:50-------41.37
10:51-------42.26
10:54-------40.54
10:58-------39.54
11:02-------44.91
11:08-------40.83

Adavncers 67 Decliners 26
Value turnover: PhP 1.143 bn

11:13-------38.70
11:27-------38.55
11:28-------41.51

Advancers 65 Decliners 29
Value turnover: PhP 1.780 bn

11:31-------45.70
11:32-------47.22
11:35-------46.17
11:36-------44.41
11:39-------46.24

PhP 41.700 vs US$ 1.00

11:41-------43.33
11:43-------45.93
11:47-------44.56
11:50-------43.92
11:54-------44.12
11:57-------42.48

Value turnover: PhO 2.365 bn

11:59------51.13--------3543.09
12:01------41.02--------3532.98 (+1.18%)
Market Close.

Advancers 67
Decliners 39

Value turnover: PhP 2.812 bn
Cross transactions: PhP 957 mn

Sectoral Indices.
Holdings +2.04%
Property +1.88%
Financial +1.35%
Industrial +0.73%
Services +0.53%
M-O -2.22%

The Day's Top Gainers:
VVT: PhP: +50.00%
ABAB: PhP: +20.00%
MFIN: PhP 4.80: + 20.00%

The Day's Biggest Decliners:
ARA: PhP 0.56; -9.68%
LC: PhP 0.46; -6.12%
LIHC: PhP 16.25; -4.41%