The Philippine Stock Market - May 20, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 13,028.16
Trade Time: May 19
Change: Up 41.36 (+0.32%)
Prev Close: 12,986.80
Open: 12,985.41
Day's Range: 12963.76 - 13136.69

The DJIA traded higher for most of the day. It mounted a strong run-up as the 13000 level was broken; and it was even up by around 150 points in the early afternoon. A sell-off cut the rally short but the DJIA still managed to close above 13000.

The rally in the US beyond the 13000 level had a lifting impact on the local equities market. The Philippine Stock Exchange Index (PSEi) opened higher and maintained its modest gains. Again, the smaller cap issues were the focus in the day's trading. The PSEi is currently testing the 2900 level.

PSEi previous close - 2887.46 (May 19)
open- 2886.04 (+8.08)
high - 2903.51 (+26.05)
close - 2896.15 (+18.69 pts or +0.65%)

Value turnover: PhP 2.662 bn
Cross transactions: PhP 1.250 bn

Advancers 71
Decliners 29
Unchanged 65

Sectoral Indices.
Holdings +1.28%
Industrial +1.06%
M-O +0.80%
Services +0.66%
Property +0.53%
Financial -0.09%

The Day's Top Gainers:
APR: PhP 3.00; +48.51%
BCB: PhP 35.00; +20.69%
PAX: PhP 3.80; +18.75%

The Day's Biggest Decliners:
CDC: PhP 1.32; -12.00%
FAF: PhP 0.65; -7.14%
MA: PhP 0.016; -5.88%

At midday:
Most asian markets were down.
The Philippine peso was at PhP 42.942 vs US$1.00