The Philippine Stock Market - October 07, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 9,955.50
Trade Time: Oct 6
Change: Down 369.88 (-3.58%)
Prev Close: 10,325.38
Open: 10,322.52
Day's Range: 9525.32 - 10322.76

The turmoil in Europe added to the fears in WallStreet as the DJIA opened lower and sparked a new round of selling. When the 10,000 level was broken, the decline accelerated to near panic proportions and the DJIA was down by 800 points at one point and was at levels last seen five years ago. A late rally however enabled the market to regain some of its losses and close just below 10,000.

New York Metal & Oil Report:
Gold - up $38.50 to $868.40/$868.90
US Oil - down $6.07 to $ 87.81 (near 8 month low levels)

The local equities market also fell to another spate of selling orders as the declines in world equiites markets renewed worries among investors. The Philippine Stock Exchange Index (PSEi) immediately opened sharply lower and was unable to recover.
Philippine Inflation was at 11.9% in September.

PSEi previous close - 2499.53 (Oct 6)

time-------------down-------------PSEi
9:31------------65.09-----------2434.44
9:32------------67.03
9:33------------71.87
9:43------------73.69-----------2425.84

The PSEi atempts to close the chart gap at 2401-2426 left open since September 18-19.

9:48------------69.66
9:50------------66.35
9:57------------64.53
9:58------------63.28
9:59------------60.62
10:00-----------57.34
10:01-----------55.91
10:07-----------55.10-----------2444.43

10:17-----------59.19
10:23-----------62.85-----------2436.68

10:51-----------58.77
11:00-----------56.88
11:07-----------55.29-----------2441.24

11:11-----------58.29
11:18-----------59.88
11:21-----------60.29
11:25-----------61.32
11:28-----------62.81
11:29-----------67.22
11:30-----------68.39
11:33-----------71.58
11:44-----------73.66-----------2425.10
11:45-----------76.12
11:46-----------76.71
11:48-----------78.47
11:51-----------78.53
11:52-----------79.13
11:53-----------79.32-----------2420.21 (day's low)
11:56-----------77.94
11:59-----------78.71
12:01-----------75.34-----------2424.19 (-3.01%)
Market Close.

Value turnover: PhP 2.307 bn
Cross transactions: PhP 901 mn
Block Sale: 13140 shs TEL @ PhP 2676.5897 = PhP 35.170 mn

Advancers 10
Decliners 108
Unchanged 28

Sectoral Indices were down across-the-board.
Property -4.19%
Financial -4.07%
Holdings -3.90%
Industrial -3.53%
M-O -2.30%
Services -1.96%

The Day's Top Gainers:
PCKH: PhP 9.90; +41.43%
KPM: PhP 2.70; +10.00%
SMDC: PhP 2.34; +4.46%

The Day's Biggest Decliners:
MED: PhP 0.27; -35.71%
ARA: PhP 0.25; -34.21%
MHC: PhP 0.15; -25.00%

At mid-day:
Most asian markets were down though some were already higher from earlier declines.
The Philippine Peso was at PhP 47.701 vs US$ 1.00.