The day's market - January 17, 2008

PLDT (TEL) was down by $2.12 at WallStreet. It closed at $71.94 or at around PhP 2920-2930 when converted.
Gold was down by $15.00 to close at $884.50 an ounce.

The actual Philippine Balance of Payments (BOP) in 2007 ended with a surplus of $8.566 bn and more than twice the surplus of $3.769 bn in 2006.

PSEi previous close - 3351.66 (January 16, 2008)

time-----------down-----------PSEi
9:31-----------12.43----------3339.23

The immediate drop today opens another chart gap at the 3350-3339 level.
Advancers 5 Decliners 11

9:32-----------17.95
9:33-----------21.91
9:34-----------22.19
9:35-----------26.54
9:36-----------31.76
9:38-----------32.39----------3319.27
9:40-----------44.24----------3307.42

TEL trades at PhP 2950 from PhP 2985 previously.

9:42-----------44.77
9:43-----------46.33
9:45-----------49.66----------3302.00

9:46-----------60.39----------3291.27

The 3300 level was broken and the PSEi heads lower to test the 3280 level.

9:47-----------61.14
9:50-----------67.35
9:51-----------69.74----------3281.92

9:52-----------73.92----------3277.74
9:54-----------70.38
9:55-----------69.47----------3282.19
9:56-----------71.82
9:59-----------75.75----------3275.91

The market also falls through the 3280 level and declines further to new 4-month lows.

10:01----------76.48
10:02----------77.28
10:03----------78.70
10:05----------81.73
10:06----------82.37-----------3269.29

At this point, other asian equities markets were up.

10:08----------80.89
10:09----------81.99
10:11----------84.71
10:12----------85.05
10:13----------86.76
10:22----------87.82
10:24----------88.97
10:25----------89.23
10:26----------89.68
10:27----------92.39-----------3259.27

10:28----------88.65
10:30----------92.05
10:36----------93.07-----------3258.59

10:40----------90.00
10:43----------91.89
10:44----------99.45
10:47---------101.07-----------3250.59

The Philippine Stock Exchange Index (PSEi) settles at the 3250 level. It consolidates near this level for the rest of the trading session.

10:48---------104.18
10:52---------104.48
10:57---------106.47
11;01---------106.80
11:04---------108.34
11:05---------109.09
11:06---------110.52----------3241.14

PhP 40.963 vs US$ 1.00

11:09---------107.73
11:11---------111.73----------3239.93 (day's low)
11:17---------109.47
11:23---------108.78
11:25---------110.12
11:26---------107.68
11:27---------108.22
11:29---------109.70
11:34---------106.72
11:37---------108.43

PhP 40.978 vs US$ 1.00

11:39---------105.76
11:43---------106.12
11:46---------104.72
11:50---------100.79
11:52---------102.82
11:53---------103.20
11:55---------102.90
11:56---------102.40
11:57---------103.96
11:58---------100.28
11:59----------98.08
12:01---------102.77----------3248.89 (-3.07%)
Market Close.

Advancers 13
Decliners 126

Value turnover: PhP 4.076 bn
Cross transactions: phP 1.330 bn

The PSEi partially closes the chart gap at the 3217-3267 which was left open since August 29-30, 2007. The next support is seen at the 3171 - 3200 level.
Asian markets were down at this point.

Sectoral Indices were again down across-the-board.
M-O -4.99%
Property -4.26%
Holdings -4.07%
Industrial -3.46%
Services -2.03%
Financial -0.52%

The Day's Top Gainers:
BCP: PhP 14.00 ; +40.00%
SLF: PhP 1950.00; +11.43%
KPM: PhP 2.46; +6.96%

The Day's Biggest Decliners:
ZHI: PhP 0.38; -24.00%
TDY: PhP 4.00; -20.00%
BRN: PhP 2.75; -15.38%