The Philippine Stock Market - January 7, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 9,015.10
Trade Time: Jan 6
Change: Up 62.21 (+0.69%)
Prev Close: 8,952.89
Open: 8,954.57
Day's Range: 8,940.95 - 9,088.06

The local equities market opened higher as WallStreet advanced above the 9000 level. The Philippine Stock Exchange Index (PSEi) continued its advance and closed near its high. The key 2000 index level was breached.

*****Philippine December (2008) Inflation was at 8.0% down from 9.9% in November. The 2008 average inflation was at 9.3%.
In the US, the current average P/E of the S&P is at 16. The 10-year average is 26.


PSEi previous close - 1969.58 (January 6, 2009)

time------------up------------PSEi
9:31-----------4.42----------1974.00 (day's low)
9:32-----------6.68
9:33-----------8.18
9:34----------10.15
9:36----------15.50
9:37----------16.99

It was a jack-rabbit start at the Philippine Stock Market. The PSEi rapidly advances.

9:41----------19.61
9:45----------20.66
9:49----------26.04
9:52----------29.12
9:53----------29.77
9:54----------31.16----------2000.74

The 2000 level was tested within the first half-hour of trade.

9:58----------30.42
10:00---------32.46----------2002.04

The market retraces a little bit after the fast rise.

10:14--------26.96
10:19--------25.60
10:31--------25.11
10:40--------24.66
10:44--------21.44
10:55--------18.17
11:10--------17.28-----------1986.86

After the mid-session respite, the market resumes its advance for the rest of the trading day.

11:14--------19.05
11:22--------22.04
11:26--------24.32
11:30--------25.98
11:40--------26.65
11:42--------27.11
11:48--------28.38
11:49--------29.46
11:50--------31.29
11:55--------32.30
11:57--------35.10-----------2004.68 (day's high)
12:01--------34.31-----------2003.89 (+1.74%)
Market Close.

Advancers 93
Decliners 13
Unchanged 21

Value turnover: PhP 2.231 bn
Cross transactions: PhP 768 mn
Block Sale: 528,600 shs BDO @ PhP 33.00 = PhP 17.443 mn

Sectoral Indices.
Holdings +4.24%
Property +3.60%
M-O +3.34%
Financial +2.58%
Industrial +2.01%
Services -0.16%

The Day's Top Gainers:
AT: PP 4.05; +26.56%
BKD: PhP 1.32; +20.00%
AR: PhP 0.0036; +20.00%

The Day's Biggest Decliners:
UW: PhP 0.09; -25.00%
WIN: PhP 0.17; -17.07%
EIBR: PhP 0.23; -14.81%

At mid-day:
Asian markets were mostly up.
The Philippine Peso continued to strengthen to PhP 46.597 vs US$ 1.00.