The Philippine Stock Market - October 31, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 9,180.69
Trade Time: Oct 30
Change: Up 189.73 (+2.11%)
Prev Close: 8,990.96
Open: 9,004.66
Day's Range: 8,976.87 - 9,266.47

WallStreet moved in a "narrower" 290 point range as it tries to build a base at the 9000 level. It was still a roller coaster ride with several reversals of directions; with the last one coming in at the final half hour of trading which brought the DJIA higher by more than 2.0% from its previous close.

The local equities market rode on its momentum from it's strong advances the past couple of days. The rise in WallStreet also boosted investor sentiment and the Philippine Stock Exchange Index (PSEi) broke above the 1900 level as it has risen more than 4.0% for the third straight day.

PSEi previous close - 1864.93 (October 30)

time-------------up------------PSEi
9:31-----------42.60----------1907.53

The 1900 level is immediately breached.

9:32-----------38.17
9:33-----------42.00
9:34-----------53.51
9:35-----------64.87
9:35-----------72.99
9:39-----------76.96
9:40-----------77.81
9:41-----------80.34
9:42-----------84.28
9:44-----------85.64----------1950.57

9:48-----------80.40
9:50-----------86.60
9:54-----------89.66
9:55-----------91.33
9:56-----------93.52
9:57-----------95.43----------1960.36 (+5.11%)

After the steep opening advance, the market retraces.

9:58-----------91.80
10:01----------86.55
10:05----------84.71
10:08----------78.81

10:09----------80.63
10:11----------77.32
10:12----------75.52
10:13----------71.53
10:15----------70.20
10:16----------68.50
10:17----------66.33
10:18----------65.46
10:19----------64.51

10:24----------67.07
10:31----------64.48-----------1929.41

After taking a breather for the last half-hour; the market gets its second wind.

10:35----------67.35
10:38----------70.50
10:46----------72.98
10:47----------73.26
10:50----------74.38
10:54----------76.49
10:56----------76.72
10:57----------77.30
10:59----------79.13
11:04----------80.90
11:06----------85.58
11:11----------86.86
11:12----------90.80
11:14----------91.82
11:16----------93.57
11:19----------94.63
11:20----------95.80
11:21----------96.11
11:26----------96.24-----------1961.17 (+5.16%)

11:32----------92.82
11:35----------94.93
11:41----------94.01
11:44----------95.21
11:47----------95.10
11:49----------99.98-----------1964.91 (+5.36%) day's high

11:50----------97.36
11:52----------94.75
11:56----------96.25
11:57----------91.71
11:58----------90.52
11:59----------87.48
12:01----------86.16-----------1951.09 (+4.62%)
Market Close.

Value turnover: PhP 3.866 bn
Cross transactions: PhP 880 mn

Advancers 99
Decliners 16
Unchanged 32

Sectoral Indices.
Property +6.04%
M-O +4.40%
Industrial +4.32%
Holdings +4.15%
Financial +3.44%
Services +3.33%

The Day's Top Gainers:
FAF: PhP 0.45; +50.00%
ILIB: PhP 0.55; +37.50%
IRC: PhP 0.68; +36.00%

The Day's Biggest decliners:
PO: PhP 2.50; -23.08%
MFC: PhP 1,100; -12.00%
LIHC: PhP 5.00; -10.71%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 48.856 vs US$ 1.00.


BLOCK SALES:
TEL: 35,000 shs @ PhP 1940 = PhP 67.900 mn
-----22,280 shs @ PhP 2155 = PhP 48.013 mn
AC: 161,470 shs @ 287.50 = PhP 46.422 mn
JFC: 804,500 shs @ 41 = PhP 32.984 mn
BPI: 1,045,600 shs @ 41 = PhP 42.869 mn
-------628,000 shs @ 40.50 = PhP 25.434 mn
ALI: 6,400,000 shs @ 7.80 = PhP 49.92 mn
-----4,595,000 shs @ 7.90 = PhP 36.300 mn
EDC: 13,940,000 shs @ PhP 3.65 = PhP 50.881 mn
SECB: 504,700 shs @ 55.00 = PhP 27.758 mn

SMC: 339,349,120 shs @ PhP 80 = PhP 27.147 bn
SM Investments Corp. (SMIC) sold its shares in San Miguel Corp. (which is around 10.757% of SMC) to San Miguel Corporation Retirement plan at PhP 80 per share. The price of SMC at today's closing is at PhP 48.00.