The Philippine Stock Market - August 12, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,782.35
Trade Time: August 11
Change: Up 48.03 (+0.41%)
Prev Close: 11,734.32
Open: 11,729.67
Day's Range: 11675.53 - 11867.11

WallStreet opened lower but a mid-session rally had it advance more than 130 points at one point. A late sell-off however pared down its gains.

The local equities opened higher but soon fell retreated as profit taking set in. The Philippine Stock Exchange Index (PSEi) corrected after advancing 6.37% (from 2602 up to 2768) the past four trading days (since August 05).

PSEi previous close - 2768.52 (August 11)

time-------------change---------------PSEi
9:31-------------up 7.12------------2775.64 (day's high)
9:32----------------2.90
9:35----------------5.30
9:37----------------6.32
9:44---------down 0.61
9:48----------------4.22
9:51-------------up 0.47
9:55----------------3.41
9:58----------------3.22
10:05---------------0.29
10:07--------down 2.13
10:08------------up 0.14
10:12----------------1.73
10:13----------------2.27
10:17----------------3.35
10:21----------------0.35
10:29--------down 2.57

After a relatively directionless trading in the first hour; the PSEi moves into negative territory.

10:37---------down 1.14
10:42---------------1.14
10:50---------------1.93
10:55---------------0.21
11:03---------------7.14
11:05---------------4.35
11:09---------------5.73
11:17---------------7.41
11:18--------------12.85
11:20--------------10.46
11;26--------------11.52
11:31--------------10.90
11:32---------------8.80
11:35--------------11.54
11:38--------------14.61
11:39--------------16.05
11:41--------------14.78
11;43--------------15.84
11;45--------------17.16
11:49--------------18.19------------2750.33

The 2750 level was tested.

11:50--------------20.83------------2747.69 (day's low)
11:53--------------19.70
11:55--------------16.05
11:56--------------15.36
11:57--------------17.32
11:58--------------16.98
11:59--------------19.14
12:01--------------12.66-------------2755.86 (-0.46%)
Market Close.

Value turnover: PhP 2.925 bn
Cross transactions: PhP 1.215 bn

Advancers 29
Decliners 83
Cross transactions: 39

Sectoral Indices.
Property -2.04%
Holdings -2.03%
M-O -1.64%
Financial -0.28%
Services -0.23%
Industrial +0.45%

The Day's Top Gainers:
POPI: PhP 0.34; +17.24%
MFIN: PhP 3.00; +15.38%
PRMX: PhP 3.90; +8.33%

The Day's Biggest Decliners:
IRCB: PhP 0.80; -15.79%
IRC: PhP 0.80; -11.11%
ABA: PhP 0.0090; -10.00%

At mid-day: Asian markets were mostly down.
The Philippine Peso was at PhP 44.566 vs US$ 1.00.