The Philippine Stock Market - September 17, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 11,059.02
Trade Time: Sept 16
Change: Up 141.51 (+1.30%)
Prev Close: 10,917.51
Open: 10,905.62
Day's Range: 10742.70 - 11093.22

Another volatile trading session in WallStreet. After opening weak and declining by around 175 points; the DJIA rebounded and closed near its high. It moved in a wide 350 point range.

The US Federal Reserve leaves interest rates unchanged at 2.00%
US Consumer Price Index drops in August by 0.1%. Its first decline in around 2 years.
US Bank, Barclays to buy some core assets of investment giant Lehman Brothers for around $1.75 bn.
The US fed takes over AIG by offering a bridging loan of $85 in exchange for 80% of the leading insurer.

The local equities market also rebounds after huge declines the past couple of days. The Philippine Stock Exchange Index (PSEi) however closed off its highs and ended with modest gains.

PSEi previous close - 2421.72 (Sept 16)

time---------up-------------PSEi
9:31--------19.75---------2441.47
9:32--------20.33
9:33--------22.23
9:34--------26.62
9:35--------30.77---------2452.49

The PSEi goes over the 2450 level.

9:36--------34.57
9:37--------38.32
9:38--------39.40
9:39--------46.06
9:40--------48.38---------2470.10

9:43--------49.45
9:44--------51.48
9:45--------52.07
9:47--------53.63
9:50--------57.05
9:51--------58.80
9:52--------59.60
9:55--------59.89
9:56--------62.39
9:57--------64.56---------2486.28 (day's high)
9:59--------60.77
10:04-------56.42

The market moves in a narrow range in the next hour.

10:09-------55.16
10:17-------54.04
10:26-------53.29
10:33-------56.11
10:35-------57.28
10:40-------54.83
10:45-------56.64
10:48-------55.47
10:50-------56.01
10:54-------54.96
10:55-------54.77
11:01-------54.77
11:02-------55.63
11:09-------55.50

The PSEi moves in a lower range.

11:12-------53.95
11:13-------49.08
11:15-------46.22

11:18-------48.87
11:20-------50.09
11:25-------50.40
11:26-------48.37
11:29-------46.26
11:30-------45.86
11:35-------45.56
11:37-------47.46
11:38-------44.08
11:42-------43.42
11:47-------43.31
11:53-------41.94
11:55-------41.36
11:56-------40.13

Banking stocks BDO, MBT and BPI suffers a late selldown.

11:57-------35.74
11:58-------34.89
12:01-------35.28------------2457.00 (+1.46%)
Market Close.

Value turnover: PhP 2.709 bn
Cross transactions: PhP 1.219 bn
Block Sale: 10,000 shs TEL @ PhP 2500 = PhP 25 mn

Advancers: 67
Decliners: 26
Unchanged: 48

Sectoral Indices.
Property +2.61%
Industrial +1.82%
Holdings +1.26%
Services +1.22%
M-O +1.12%
Financial -0.31%

The Day's Top Gainers:
EVER: PhP 0.13; +23.81%
PMPC: PhP 7.50; +19.05%
SHNG: PhP 1.70; +10.39%

The Day's Biggest Decliners:
POPI: PhP 0.26; -25.71%
MHC: PhP 0.19; -24.00%
SCC: PhP 47.00; -11.32%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 47.017 vs US$ 1.00.