The Philippine Stock Market - May 08, 2009

The Dow Jones Industrial Average (DJIA) declines by more than 100 points after its gains the past days.
****The Stress tests shows that some US banks needed to boost their capital.
****Job losses data was not as worse as those recorded in the previous months.

DJIA previous close (May 6)- 8512.28
DJIA close (May 7) - 8409.85 (down 102.43 pts)

The drop in WallStreet spurs an early sell-off and a much needed correction in the local equities market. The Philippine Stock Exchange Index (PSEi) however recovers and ends with minimal gains as the retreat was shortlived. The Philippine Stock Market showed its resilience and strenght.

PSEi previous close - 2238.92 (May 7)

time----------change--------PSEi
9:31------down 9.48-------2229.44
9:32----------16.76
9:34----------18.98

9:36-----down 13.61
9:39----------17.92
9:41----------19.82
9:42----------20.05
9:43----------21.46
9:46----------22.65
9:51----------25.88
9:53----------27.20
9:56----------28.50
9:59----------30.81
10:00---------31.59
10:01---------32.50
10:04---------33.95
10:10---------36.32-------2202.60 (day's low)

The 2200 level is tested as a support level.

10:13----down 34.52
10:32---------27.52

The market starts to recover.

10:36----down 24.48
10:41---------23.89
10;46---------21.51
10:49---------20.02
10:53---------19.07
11:02---------14.23
11:03---------13.84
11:04---------11.05
11:07---------10.07

11:09----down 16.64
11:18---------10.43
11:20----------7.95

The trend has completely reversed and the market makes a full recovery in the final part of the trading session.

11:26----down 5.65
11:30---------4.76
11:36---------3.60
11:42---------1.27

11:45------up 1.46
11:47---------2.48
11:56---down 1.67
11:59-----up 3.79--------2242.71 (day's high)
12:01--------3.06--------2241.98 (+0.13%)
Market Close.

Value turnover: PhP 3.255 bn
Cross transactions: PhP 1.156 bn
Block Sales: 39,380 shs TEL @ PhP 2165 = PhP 85.251 mn
----------------11,290 shs TEL @ PhP 2160 = PhP 24.386 mn
----------------250,000 shs CHIB @ PhP 320 = PhP 160 mn

Advancers 76
Decliners 36
Unchanged 39

Sectoral Indices.
M-O +3.05%
Property +0.84%
Holdings +0.34%
Financial +0.20%
Services -0.04%
Industrial -0.17%

The Day's Top Gainers:
PAX: PhP 1.22; +31.18%
LC: PhP 0.11; +22.22%
ECP: PhP 1.90; +18.75%

The Day's Biggest Decliners:
ION: PhP 1.10; -15.30%
WIN: PhP 0.15; -14.29%
CHIB: PhP 330.00; -5.71%

CLOSING PRICES OF SELECT STOCKS (as of May 08, 2009):
ABA: PhP 0.96
ALI: PhP 7.40
DGTL: PhP 1.16
EDC: PhP 3.85
EIBA: PHP 0.25
FLI: PhP 0.67
GEO: PhP 0.56
GOB: PhP 0.17
JOH: PhP 1.00
LOTO: PhP 9.80
MEG: PhP 0.95
MPI: PhP 3.40
MUSX: PhP 0.0875
PAX: PhP 1.22
PX: PhP 5.90
SPH: PhP 3.05
SUN: PhP 0.30
TA: PhP 0.98
UW: PhP 0.08
WEB: PhP 0.044