The day's market - February 22, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA)
Index Value: 12,284.30
Trade Time: Feb 21
Change: Down 142.96 (1.15%)
Prev Close: 12,427.26
Open: 12,426.85
Day's Range: 12247.34 - 12503.46

WallStreet continues to experience volatile trading. The DJIA traded within a 250 point range. It tested the 12500 resistance level once again in the early going but continued to decline and closed near its day's low.

The decline in WallStreet and lack of positive news had the local equities market open lower.

PSEi previous close - 3176.06 (February 21, 2008)

time-------------down------------PSEi
9:31------------2.62-----------3173.44

Advancers 5 Decliners 10

9:32------------5.28
9:33------------7.75
9:36------------8.39
9:37------------9.54
9:38-----------10.08
9:39-----------11.43
9:40-----------12.02
9:47-----------14.45
9:50-----------16.64-----------3159.42

The 3160 level which held as a support earlier this week was broken. The decline now accelerates.
More investors opted to cash out ahead of the long weekend. Concerns on the political developments continued to linger and now weighed down the market.

9:56-----------19.41
9:57-----------21.20
9:58-----------22.29
9:59-----------23.16
10:02----------23.71
10:17----------23.78
10:20----------24.88
10:21----------25.52--------------3150.54
10:23----------29.30
10:26----------35.27
10:27----------37.42
10:33----------40.35
10:35----------44.15--------------3131.91

It has been a continuous decline so far and the Philippine Stock Exchange Index (PSEi) has not yet found a support.

10:42----------47.38
10:44----------48.97
10:46----------50.89
10:47----------51.74
10:50----------53.18
10:56----------54.03
10:58----------54.86
11:00----------55.66--------------3120.40
11:07----------56.20
11:09----------58.81
11:12----------59.57
11:13----------59.72
11:16----------63.07
11:21----------64.71
11:22----------65.03
11:23----------65.26--------------3110.80
11:24----------66.35
11:25----------69.45
11:26----------72.26--------------3103.80
11:27----------78.49--------------3097.57

The 3100 level fails to hold as a support and another round of selling pressure continues to depress the market.

11:28----------79.14
11:29----------83.73--------------3092.33

The chart gap at the 3094-3121 left open last January 23-24, 2008 was closed.

11:31----------85.89
11:32----------86.86
11:34----------93.08--------------3082.58
11:36----------83.75
11:37----------80.74--------------3095.32
11:39----------82.91
11:41----------84.86
11:42----------85.46
11:44----------87.01
11:45----------87.61
11:47----------89.16
11:49----------90.86
11:52----------91.07
11:53----------91.60--------------3084.46
11:55----------88.79
11:57----------91.27
11:58----------92.38
11:59----------86.60--------------3089.26
12:01----------95.82--------------3080.24 (-3.02%) LOW
Market Close.

Advancers 19
Decliners 103

Value turnover: PhP 2.542 bn
Cross transactions: PhP 798 mn

The Day's Top Gainers:
MFIN: PhP 4.90; +13.95%
SUN: PhP 0.48; +9.09%
CEI: PhP 0.065; +8.33%

The Day's Biggest Decliners:
CRC:PhP 13.50; -15.63%
EIBA: PhP 0.35; -10.26%
KPM: PhP 2.10; -8.70%