The Philippine Stock Market - September 24, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 10,854.17
Trade Time: Sept 23
Change: Down 161.52 (-1.47%)
Prev Close: 11,015.69
Open: 11,015.69
Day's Range: 10833.94 - 11143.21

After an initial advance wherein the DJIA gained more than 100 points; WallStreet again showed volatility as it soon broke below the 10000 level and closed near its low.

The local equities market opened lower because of the triple digit drop in WallStreet overnight. The Philippine Stock Exchange Index (PSEi) showed resilience as it ended in positive territory and above the 2500 level.

PSEi previous close - 2486.29 (Sept 23)

time-------------change-------------PSEi
9:31------down 16.01--------------2470.22
9:33-------------18.03--------------2468.26 (day's low)
9:38--------------9.00
9:40--------------7.19
9:43--------------4.69
9:56--------------3.72
10:00----------up 0.38

After the initial drop; the market is able to wipe out its losses. Investors gain confidence.

10:01----------up 0.71
10:07-------------3.19
10;13-------------5.20
10:29-------------7.62
10:31-------------9.11
10:35------------10.71
10:42------------11.18
10:49------------11.26
10:51------------13.08
10:55------------14.63--------------2500.92

The PSEi goes above the 2500 level and holds above it for the rest of the trading session.

10:59--------up 15.47
11:10------------14.58--------------2500.87
11:15------------15.75
11:16------------16.07
11:18------------14.38--------------2500.67
11:20------------18.34
11:22------------18.93--------------2505.22

11:27------------17.15
11:28------------16.44
11:33------------15.42
11:34------------14.77--------------2501.76

11:40------------17.65
11:43------------18.24
11:46------------19.37
11:47------------21.95--------------2508.24

11:52------------17.88
11:55------------18.22
11:57------------24.86
11:58------------28.77
11:59------------31.34--------------2517.63 (day's high)
12:01------------24.03-------------2510.32 (+0.97%)
Market Close.

Value turnover: PhP 2.004 bn
Cross transactions: PhP 653 mn

Advancers 52
Decliners 33
Unchanged 53

Sectoral Indices.
Industrial +4.10%
Property +1.58%
Financial +1.11%
Holdings +0.28%
Services -0.34%
M-O -0.51%

The Day's Top Gainers:
KPH: PhP 2.00; +31.58%
PA: PhP 0.105; +10.53%
SMCB: PhP 54.00; +10.20%

The Day's Biggest Decliners:
KPHB: PhP 2.00; -9.09%
MAB: PhP 0.011; -8.33%
MA: PhP 0.011; -8.33%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 46.47 vs US$ 1.00.