The Philippine Stock Market - November 4, 2008

Dow Jones Industrial Average (DJIA)
Index Value: 9,319.83
Trade Time: Nov 3
Change: Down 5.18 (-0.06%)
Prev Close: 9,325.01
Open: 9,326.04
Day's Range: 9255.48 - 9410.55

WallStreet was tentative ahead of the US Presidential Elections. It also tried to shake off its volatility as it traded within a "narrow" 155 point range.

The local equities market continued on its strong momentum early in the day and was up by more than 2.0% by mid-session. Its large gains accumulated in the past day's however caught up with it and the Philippine Stock Exchange Index (PSEi) had a correction in the latter part of the trading day. It however, managed to hold at the 2000 level.

PSEi previous close - 2025.58 (November 3)

time----------change---------PSEi
9:31--------up 13.97--------2039.55
9:32-----------21.99
9:33-----------23.41
9:34-----------26.33--------2051.91

The 2050 level was reached.

9:36--------up 26.88
9:38-----------27.24

9:41--------up 23.94
9:43-----------22.20
9:48-----------21.98--------2047.56

9:53--------up 26.33--------2051.91

10:00-------up 23.36
10:05----------25.21
10:08----------27.21
10:09----------32.68--------2058.26

The market continues its advance.

10:10-------up 33.31
10:13----------35.86
10:14----------36.39
10:15----------39.07
10:16----------42.06
10:22----------42.86--------2068.44 (+2.11% - day's high)

The market begins to retreat.

10:25-------up 39.24
10:30----------37.52
10:33----------35.18
10:34----------32.40
10:36----------31.82
10:38----------30.45
10:41----------30.28
10:43----------28.71
10:58----------24.45
11:00----------24.02---------2049.60

The PSEi moves back below 2500 and its decline accelerates and continues in the last hour of trading.

11:04-------up 21.92
11:05----------20.20
11:06----------19.88
11:08----------19.46
11:10----------18.33
11:12----------17.01
11:14----------16.40
11:15----------14.88
11:16----------13.26
11:17----------12.89
11:19----------10.86
11:21-----------7.34
11:22-----------6.91
11:24-----------5.75
11:25-----------5.02
11:26-----------4.66
11:29-----------2.33
11:30-----------0.19---------2025.77

The market trades in negative territory in the last 30 minutes.

11:31-----down 1.98
11:32-----------6.42
11:33----------11.04
11:36----------12.56
11:37----------14.66
11:38----------15.59
11:39----------16.76
11:41----------19.52
11:42----------19.85
11:43----------21.99
11:44----------24.91
11:45----------25.05-----------2000.53

The 2000 level is tested.

11:46-----down 28.03-----------1997.55
11:48----------33.04
11:49----------34.21-----------1991.37 (day's low)
11:51----------30.62
11:52----------28.59
11:54----------30.10
11:57----------30.67
11:58----------27.40-----------1998.18
11:59----------22.91
12:01----------22.54-----------2003.04 (-1.11%)
Market Close.

Value turnover: PhP 2.940 bn
Cross transactions: PhP 807 mn

Advancers 35
Decliners 63
Unchanged 44

Sectoral Indices.
Property -3.12%
M-O -1.25%
Holdings -1.13%
Services -0.84%
Financial +0.30%
Industrial +1.01%

The Day's Top Gainers:
PO: PhP 3.25; +30.00%
MFIN: PhP 2.50; +25.00%
ILIB: PhP 0.65; +18.18%

The Day's Biggest Decliners:
ORE: PhP 0.45; -30.77%
SLI: PhP 0.50; -26.47%
VITA: PhP 0.21; -22.22%

At mid-day:
Asian equities markets were mixed.
The Philippine Peso was at PhP 48.807 vs US$ 1.00.