The Philippine Stock Market - September 19, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 11,019.69
Trade Time: Sept 18
Change: Up 410.03 (+3.86%)
Prev Close: 10,609.66
Open: 10,609.01
Day's Range: 10459.44 - 11076.44

After a weak start in WallStreet (wherein the DJIA was down around 150 points at one point) the US equities market had a strong rally in the afternoon session. It gained around 600 points in late trading to wipe out its losses and close near its high above the 11,000 level.

US stocks soar as government plans to shore up banks and try to come up with a comprehensive solution.
US and UK clamp down on short selling.

New York Oil and Metal Report
Gold - up $31 to $889.35/889.85
US Oil - up $2.72 to $97.88

Gold has a recorded two day runup as "fear trade" boost demand for safe haven.

The local equities market also posted a big rebound and as it regained yesterday's losses. The Philippine Stock Exchange Index (PSEi) had a huge opening surge and kept its momentum to also close near its high.

PSEi previous close - 2352.37 (Sept 18)

time-----------up------------PSEi
9:31---------74.20----------2426.57
9:32---------88.18
9:33---------93.43

9:36---------89.68
9:38---------92.28
9:39---------93.62
9:44---------99.09
9:47--------103.22----------2455.59

9:50--------100.84
9:55---------98.96

10:07-------101.46
10:12-------104.75
10:13-------105.35

10:14-------102.39
10:15--------99.32

10:17-------103.11
10:19-------103.49
10:23-------105.26
10:28-------105.68
10:29-------108.47
10:34-------110.00
10:35-------110.33
10:37-------111.97----------2464.34

10:43-------108.60
10:45-------110.86
10:48-------112.24
10:52-------113.00
10:53-------115.09
10:54-------117.37
10:59-------117.94
11:01-------119.42----------2471.79

11:03-------116.03
11:05-------114.94
11:08-------118.62

11:11-------119.01
11:12-------116.01
11:13-------120.33----------2472.70 (day's high)

11:15-------119.99
11:16-------118.30
11:17-------115.82
11:23-------114.78
11:25-------113.85

11:28-------117.70
11:32-------115.15
11:41-------113.93
11:46-------111.39
11:47-------109.85
11:51-------108.84
11:55-------107.64
11:56-------105.64
11:59-------107.36
12:01-------110.42------------2462.79 (+4.69%)
Market Close.

Value turnover: PhP 3.087 bn
Cross transactions: PhP 946 mn
Block Sales: 27000 shs TEL @ 2461.8965 = PhP 66.47mn
---------------15000 shs TEL @ 2439.4098 = PhP 36.59 mn

Advancers 99
Decliners 18
Unchanged 29

Sectoral Indices.
Financial +7.54%
Holdings +5.38%
Property +4.37%
M-O +3.38%
Services +2.94%
Industrial +2.69%

The Day's Top Gainers:
SHNG: PhP 1.54; +28.33%
LSC: PhP 1.32; +17.86%
MBT: PhP 34.50; +13.11%

The Day's Biggest Decliners:
PHES: PhP 0.16; -23.81%
ROX: PhP 2.50; -16.67%
OMW2: PhP 0.0055; -8.33%

At mid-day:
Asian Equities markets were up.
Yesterday, the HangSeng Index (Hong Kong) also recovered its losses of more than 1000 points as of noon. It ended the Sept 18 trading day at 17632.46.
The Philippine Peso was at PhP 46.710 vs US$ 1.00.