The day's market - January 11, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA)summary
Index Value: 12,853.09
Trade Time: Jan 10
Change: Up 117.78 (+0.92%)
Prev Close: 12,735.31
Open: 12,733.11
Day's Range: 12,632.15 - 12,931.29
Volume: 325,331,945

The DJIA moved within a huge 300 point range. It was relatively weak in the early part of trading but continued to rise and even came near the key 13000 level late in the day after the US FED Chairman's speech.

Gold prices traded at all-time high levels near $900 an ounce.

Tourism arrivals in the Philippines breached the 3 million mark in 2007. The number of arrivals increased by 8.7% to 3.091 mn from 2.843 mn in 2006. More importantly; tourist expenditures posted a growth of 40.09% to reach $ 4.885 bn, from $2.622 bn in 2006. It also surpassed the $3.782 bn target for 2007.

The local equities market opened with a positive bias and slowly reached key index levels.

PSEi previous close - 3454.60 (January 10, 2008)

time------------up--------------PSEi
9:31----------8.00------------3462.60

Advancers 12 Decliner 1

9:32----------8.43
9:33----------9.11
9:34---------13.87

Advancers 23 Decliners 3

9:35---------18.92------------3473.52

This was yesterday's high and was easily broken.

9:39---------22.93
9:41---------24.81
9:42---------25.49------------3480.09

The lower end of a previous chart gap at the 3480 level was closed. The PSEi now attempts to go above its 200 day moving average (at 3486 yesterday).

9:44---------26.09

PhP 40.609 vs US$ 1.00

9:45---------27.58
9:46---------28.73
9:47---------30.56
9:48---------32.05
9:49---------32.65------------3487.25

The PSEi is now at the level near its 200 day m.a. It moves sideways for the next 10 minutes with the 3480 level as a support.

9:50---------28.90
9:53---------26.57------------3481.17
9:58---------29.28
10:00--------33.73------------3488.38

The market resumes its advance and the 3500 level is the next target.

10:01--------36.64
10:04--------41.71
10:05--------43.61------------3498.21

The PSEi now moves in a narrow range just below the 3500 level.

10:07--------39.21
10:09--------40.06
10:10--------38.54------------3493.14
10:15--------42.39

PhP 40.655 vs US$ 1.00

10:16--------43.19
10:18--------44.69
10:21--------45.51------------3500.11

The market now tries to firm up at the 3500 level.

10:24--------45.25------------3499.85
10:27--------45.92
10:30--------46.51------------3501.11

After hurdling the 3500 level; the PSEi now hovers just above it.

10:31--------47.25------------3501.85
10:33--------51.06
10:37--------51.59
10:40--------54.40------------3509.00

10:42--------50.26
10:45--------49.60
10:45--------47.47------------3502.07

10:52--------49.22

PLDT (TEL) at PhP 3075 from PhP 3050 previously.

10:59--------60.14------------3514,74 (day's high)

TEL at PhP 3090.

11:02--------57.57
11:04--------59.06
11:10--------57.57
11;13--------59.03
11:17--------58.90
11:22--------55.16
11:24--------58.51
11:25--------55.17
11:33--------49.90

The market tried but failed to advance higher for the past half hour. It just consolidated its gains.
PhP 40.597 vs US$ 1.00

11:38--------52.55
11:39--------46.98------------3501.58

The market holds at the 3500 level for the rest of the trading session.

11:40--------45.10------------3499.70
11:42--------45.73
11:43--------47.38------------3501.98
11:44--------44.89------------3499.49
11:47--------46.83
11:49--------45.28
11:50--------46.43
11:51--------45.32
11:54--------45.91
11:55--------45.25
11:56--------45.44
11:57--------44.58------------3499.18
11:58--------48.89------------3503.49
11:59--------45.16
12:01--------49.10------------3503.70(+1.42%)
Market Close.

Advancers 57
Decliners 40

Value turnover: PhP 3.121 bn
Cross transactions: PhP 1.539 bn

The Day's Top Gainers:
JOH: PhP 1.80; +11.11%
KEP: PhP 1.90; +10.47%
GO: PhP 0.27; +8.00%

The Day's Biggest Decliners:
POPI: PhP 0.46; -9.80%
MPI: PhP 4.00; -6.98%
MB: PhP 0.80; -5.88%

Sectoral Indices.
Holdings +2.25%
Property +1.88%
Services +1.15%
M-O +0.76%
Industrial +0.53%
Financial +0.47%