The Philippine Stock Market - July 16, 2008

Comments on yesterday's market:

The Philippine Star - July 16, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 10,962.54
Trade Time: July 15
Change: Down 92.65 (-0.84%)
Prev Close: 11,055.19
Open: 11,050.80
Day's Range: 10827.71 - 11123.67

It was still volatile trading in WallStreet as the DJIA moved within a 300 point range. It was down early on the trading day and it tested the 10800 level. It then recovered and even went into positive territory to go above 11,100. It however still ended lower and below the 11,000 level.

With almost a triple digit drop in WallStreet, the local equities market immediately traded lower. The Philippine Stock Exchange Index (PSEi) initially tried to hold above the 2400 level but selling pressure had it decline continually to end near its low.

PSEi revious close - 2413.26

time-------------down-------------PSEi
9:31-------------0.88------------2412.84
9:34-------------3.68
9:41-------------6.79
9:44------------16.50------------2396.76

PLDT had its opening trade at PhP 2400 from a previous close of PhP 2425. This dragged the index lower. As the 2400 level of the PSEi gave way, the decline continued.

9:47------------17.88
10:04-----------19.00
10:10-----------22.48
10:15-----------25.45
10:36-----------27.89
11:06-----------30.42
11:28-----------31.35
11:36-----------35.16
11:40-----------36.75
11:49-----------36.99
11:52-----------39.05
11:55-----------40.71------------2372.55
11:58-----------37.75
11:59-----------41.25------------2372.01 (day's low)
12:01-----------39.56------------2373.70 (-1.64%)
Market close.

Value turnover: PhP 1.648 bn
Cross transactions: PhP 702 mn

Advancers 22
Decliners 79
Unchanged 32

Sectoral Indices.
Industrial -2.49%
M-O -1.71%
Services -1.69%
Property -1.45%
Financial -1.14%
Holdings -0.61%

The Day's Top Gainers:
WIN: PhP 0.20; +8.11%
MA: PhP 0.014; +7.69%
APX: PhP 3.70; +7.25%

The Day's Biggest Decliners:
APM: PhP 0.013; -7.14%
ABA: PhP 0.0070; -6.67%
AJO: PhP 0.049; -6.67%

At mid-day:
Asian markets were mostly down.
The Philippine Peso was at PhP 45.462 vs US$ 1.00.