The Philippine Stock Market - August 19, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,479.39
Trade Time: August 18
Change: Down 180.51 (-1.55%)
Prev Close: 11,659.90
Open: 11,659.65
Day's Range: 11,434.12 - 11,690.43

With another big drop in WallStreet; the local equities market together with the other asian equities markets were down. The Philippine Stock Exchange Index (PSEi) broke below the 2700 level.

PSEi previous close - 2725.15 (August 15)

time------------down-----------PSEi
9:31------------10.30---------2714.85
9:32------------14.42
9:34------------17.34
9:36------------23.39
9:43------------25.15---------2700.00

The 2700 level is tested.

9:58------------26.35---------2698.20

The market breaks below the 2700 level and the drop accelerates. PLDT (TEL) is at 2720 from a previous close of PhP 2745. Today is the ex-date of its PhP 70 cash dividend.

9:59------------27.78---------2697.37

PLDT at PhP 2715.

10:00-----------29.78
10:02-----------33.20
10:10-----------34.41
10:14-----------34.83
10:21-----------37.75
10:30-----------38.86
10:31-----------39.17
10:36-----------41.17
10:42-----------42.43
10:52-----------42.72
10:56-----------44.71---------2680.44 (day's low)
11:19-----------36.31
11:26-----------34.84
11:36-----------44.71---------2680.44
11:43-----------32.11---------2693.04
11:51-----------37.00
11:59-----------42.26
12:01-----------33.95---------2691.20 (-1.25%)
Market Close.

Value turnover: PhP 2.285 bn
Cross transactions: PhP 1.043 bn

The support is seen at the 2611-2656 chart gap left open last August 5-6.

Advancers 19
Decliners 68
Unchanged 52

Sectoral Indices.
Holdings -2.74%
Industrial -1.43%
Services -1.23%
Financial -1.16%
Property -0.16%
M-O +0.08%

The Day's Top Gainers:
TDY: PhP 3.50; +14.75%
CRC: PhP 6.50; +14.04%
MHC: PhP 0.26; +13.04%

The Day's Biggest Decliners:
BCB: PhP 1525; -33.70%
UNI: PhP 0.12; -14.29%
MA: PhP 0.014; -12.50%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 45.417 vs US$ 1.00.