The Philippine Stock Market - September 12, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 11,433.71
Trade Time: September 11
Change: Up 164.79 (+1.46%)
Prev Close: 11,268.92
Open: 11,264.44
Day's Range: 11098.67 - 11445.68

Another volatile trading day in WallStreet. After initially dropping more than 150 points; it recovered in the latter part of the session and closed near its high.

The local equities market continued its decline and tried to find its support. The Philippine Stock Exchange Index (PSEi) opened lower and settled at the 2632-2350 range.

PSEi previous close - 2672.56 (Sept. 11)

time-----------down------------PSEi
9:31-----------5.35------------2667.21
9:32-----------8.16
9:33-----------6.21
9:37----------17.89
9:38----------20.53
9:46----------23.39
9:48----------24.53
9:50----------26.27
9:55----------27.70------------2644.86

THe PSEi moves in a narrow range for the rest of the trading session.

9:57---------23.76
9:59---------25.08
10:00--------27.87
10:01--------29.07
10:02--------31.60
10:03--------32.12------------2640.44
10:04--------28.08
10:06--------26.55
10:12--------28.85
10:15--------27.24
10:25--------30.01
10:26--------31.45
10:32--------32.32
10:37--------31.14
10:39--------30.54
10:43--------29.91
10:46--------31.17
10:50--------32.63-----------2639.93(day's low)
11:00--------30.44
11:02--------24.94
11:03--------21.61-----------2650.95

The market tries to go over the 2650 level.

11:07-------27.74
11:16-------27.14
11:29-------28.13
11:32-------29.49
11:37-------25.64
11:40-------23.92
11:43-------22.60-----------2649.96

11:48-------28.62
11:50-------29.72
11:54-------29.85-----------2642.71

11:58-------29.44
11:59-------28.27
12:01-------26.44-----------2646.12 (-0.99%)
Market Close.

Value turnover: PhP 2.043 bn
Cross transactions: PhP 878 mn
Block Sales: 17520 shs TEL @ 2750 and 14250 shs @ 2755 = PhP 87.4 mn

Advancers: 27
Decliners: 52
Unchanged: 61

The chart gap at the 2611-2656 opened last August 5-6 has only been partially filled. The recent market low was seen at 2632 last August 26 and 27.

Sectoral Indices.
Services -1.68%
Industrial -1.39%
Holdings -0.88%
Property -0.53%
M-O +0.09%
Financial +0.79%

The Day's Top Gainers:
UPM: PhP 0.011; +10.00%
ORE: PhP 1.24; +8.77%
OV: PhP 0.029; +7.41%

The Day's Biggest Decliners:
DFNN: PhP 7.30; -8.75%
MAB: PhP 0.012; -7.69%
MA: PhP 0.012; -7.69%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 47.013 vs US$ 1.00.