The Philippine Stock Market - June 12, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 12,083.77
Trade Time: June 11
Change: Down 205.99 (-1.68%)
Prev Close: 12,289.76
Open: 12,286.34
Day's Range: 12079.13 - 12286.67

The DJIA again experienced a sharp fall and closed near its low. The 12,000 level is currently being tested.

The local equities market continues with its downward momentum and again immediately opened lower. The Philippine Stock Exchange Index (PSEi) is trying to look for an immediate support at the 2,500 level.

PSEi previous close - 2579.28

time-----------down----------PSEi
9:31-----------14.84--------2564.44
9:45-----------43.71
10:01----------53.70
10:29----------68.47--------2510.81 (the day's low)

The 2500 - 2550 support seems to be holding.

10:31----------64.03
11:01----------57.78

The market trims its losses in the last hour of trading.

11:04----------53.89
11;31----------48.08
11:46----------36.68
11:49----------42.44
12:01----------34.49----------2544.89 (-1.33%)
Market Close.

Value turnover: PhP 3.355 bn
Cross transactions: PhP 1.372 bn

Advancers 16
Decliners 92
Unchanged 47

There are only 2 index issue gainers.

Sectoral Indices were again lower acrss-the-board.
Property -2.40%
M-O -2.00%
Holdings -1.58%
Industrial -1.36%
Financial -0.96%
Services -0.78%

The Day's Top Gainers:
CA: PhP 52.50; +50.00%
APX: PhP 4.50; +15.38%
BHI: PhP 0.145; +7.41%

The Day's Biggest Decliners:
SEVN: PhP 3.35; -33.00%
AB: PhP 3.50; -28.57%
VVT: PhP 5.00; -16.67%

At mid-day.
Asian markets were down.
The Philippine Peso was at PhP 44.455 vs US$ 1.00.


MARKET DECLINES:
Mkt Ave----------three wks ago--------------today---------------------down
DJIA--------13136.70(May 19)------12083.77(June 11)--------1052.93(-8.01%)
PSEi---------2903.51 (May 20)------2544.89 (June 12)---------358.62(-12.35%)