The Philippine Stock Market - January 30, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 8,149.01
Trade Time: Jan 29
Change: Down 226.44 (-2.70%)
Prev Close: 8,375.45
Open: 8,373.06
Day's Range: 8,137.94 - 8,373.14

The local equities market immediately opened lower because of the big drop in WallStreet. The Philipine Stock Exchange Index (PSEi) continue to head lower as selling momentum from yesterday dragged down sentiment further.

PSEi previous close - 1860.69 (January 29)

time-------------down------------PSEi
9:31------------14.78----------1846.31
9:53------------25.95----------1834.74

The PSEi again tries to close further the chart gap at the 1814-1834 levels; which left open last Nov 24-25, 2008. This was only partially closed last January 21 when the market reached a low of 1827.

9:58------------28.69
10:13-----------33.93---------1826.76

The January 21 low of 1827 was breached.

10:30-----------38.49
10:51-----------42.13---------1818.56 (day's low)
11:41-----------35.38
11:56-----------28.90
12:01-----------35.60---------1825.09 (-1.91%)
Market Close.

Value turnover: PhP 1.215 bn
Cross transactions: PhP 401 mn

Advancers 21
Decliners 66
Unchanged 49

Sectoral Indices.
Financial -3.04%
Property -2.40%
Holdings -2.19%
Industrial -0.96%
Services -0.86%
M-O -0.13%

The Day's Top Gainers:
VITA: PhP 0.17; +9.68%
ATS: PhP 1.54; +6.94%
MAB: PhP 0.0090; +5.88%

The Day's Biggest Decliners:
MFIN: PhP 1.20; -40.00%
ATSP: PhP 1.20; -40.00%
FPI: PhP 0.135; -32.50%

At mid-day:
Asian equities markets were mostly down.
The Philippine Peso was at PhP 47.340 vs US$ 1.00.