The Philippine Stock Market - January 21, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 7,949.09
Trade Time: Jan 20
Change: Down 332.13 (-4.01%)
Prev Close: 8,281.22
Open: 8,279.63
Day's Range: 7,939.93 - 8,291.98

WallStreet resumes trading after celebrating Martin Luther King Jr. Memorial Monday. The DJIA fell a whopping 4.0% as it closed near its low even as the new President was inaugurated. The next support is at the Nov. 21 2008 low of 7449.38. Investors will be keenly watching if the DJIA will be able to go back above 8,000.

The local equities market followed the deep declines in the US. The Philippine Stock Exchange Index (PSEi) also fell steeply as it touched a new month low in its attempt to close another gap at the 1814-1834 levels left open last November 24-25, 2008.

PSEi previous close - 1897.93 (January 20)

open/high: 1885.16 (-12.77)
low: 1827.33 (-70.60) new low since Dec. 22, 2008
close: 1840.12 (-57.81 or -3.04%)

Value turnover: PhP 1.311 bn
Cross transactions: PhP 480 mn

Advancers 18
Decliners 70
Unchanged 32

Sectoral Indices:
Property -3.74%
Holdings -3.48%
Services -3.25%
Financial -1.84%
Industrial -1.63%
M-O -1.22%

The Day's Top Gainers:
MHC: PhP 0.18; +38.46%
SHNG: PhP 0.95; +11.76%
URC: PhP 6.90; +6.15%

The Day's Biggest Decliners:
PEP: PhP 0.71; -16.47%
PO: PhP 2.60; -16.13%
IS: PhP 0.043; -10.42%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 47.459 vs US$ 1.00.