The Philippine Stock Market - July 02, 2008

Dow Jones Industrial Average(DJIA)Summary
Index Value: 11,382.26
Trade Time: July 01
Change: Up 32.25 (+0.28%)
Prev Close: 11,350.01
Open: 11,344.64
Day's Range: 11183.43 - 11407.90
52wk Range: 11,106.70 - 14,280.00

WallStreet again moved within a wide (more than 220 points) trading range. After touching lows below the 11200 level; a late rally had the market end up with modest gains.

The local equities market tried to hold above the 2400 level. But the dearth of good news had nervous investors sell down some more; late in the session and the Philippine Stock Exchange Index (PSEi) closed at its low.

PSEi previous close - 2415.25 (July 01)

time----------change-----------PSEi
9:31--------down 2.89---------2412.36
9:37-----------up 0.99
9:38--------------3.91
9:44--------------8.55---------2423.80 (day's high)
10:09-------------4.12
10:23-------------8.38
10:44-------------5.14
10:55-------------3.88
11:04-------------2.55
11:08------down 2.75
11:21-------------7.66
11:23-------------9.42
11:27-------------5.64
11:34------------10.47
11:39------------13.70
11:41------------14.88----------2400.37

The 2400 psychological immediate support level is tested.

11:42------down 15.41
11:47-------------16.23----------2399.02
11:51-------------13.93
11:54-------------10.09----------2405.16
11:56-------------15.25----------2400.00
11:59-------------18.09
12:01-------------21.35----------2393.90 (-0.88%)
Market Close.

Value turnover: PhP 2.401 bn
Cross transactions: PhP 1.179 bn

Advancers 25
Decliners 72
Unchanged 46

The next support is seen at the 2359-2382 levels. These are the lows seen last Sept. 12-13, 2006.

Sectoral Indices.
Property -3.28%
M-O -1.57%
Financial -1.17%
Holdings -0.99%
Services -0.14%
Industrial -0.01%

At mid-day:
Most asian markets were lower.
The Philippine Peso was at PhP 45.139 vs US$ 1.00