The Philippine Stock Market - August 11, 2008

With the 300 point advance in WallStreet last Friday; the local equities market opened strong and never looked back. The Philippine Stock Exchange Index (PSEi)advanced by nearly 3% for the day.

PSEi previous close - 2692.81 (August 08)

time------------up-----------------PSEi
9:32-----------49.16--------------2741.97

A chart gap is opened at 2700-2741.

9:34-----------51.66
9:36-----------58.31
9:39-----------60.75--------------2753.56
9:43-----------57.81--------------2750.62

The 2750 level was broken and held as an immediate support.

9:47-----------64.21
9:55-----------68.65
9:57-----------73.78
10:07----------74.87
10:18----------78.64
10:30----------80.29
10:44----------81.06
10:49----------82.07
10:50----------83.58
10:51----------84.18
10:55----------85.32---------------2778.13 (the day's high)

The market consolidates its gains for the rest of the session.

10:59----------77.90
11:01----------83.05
11:04----------83.09
11:07----------82.73
11:24----------82.66
11:33----------80.05
11:47----------83.02
11:54----------80.40
11:58----------76.90
12:01----------75.71---------------2768.52 (+2.81%)
Market Close.

Value turnover: PhP 3.073 bn
Cross transactions: PhP 1.047 bn

Advancers 83
Decliners 34
Unchanged 46

Sectoral Indices.
Services +3.36%
Property +2.94%
Financial +2.62%
Holdings +2.09%
Industrial +1.97%
M-O +0.38%

The Day's Top Gainers:
EVER: PhP 0.165; +13.79%
ICTV: PhP 1.90; +13.10%
I: PhP 3.30; +11.86%

The Day's Biggest Decliners:
MFIN: PhP 2.60; -38.10%
CRC: PhP 8.00; -23.81%
ATRK: PhP 4.30; -18.87%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 44.444 vs US$ 1.00.