The Philippine Stock Market - June 16, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 8,612.13
Trade Time: June 15
Change: Down 187.13 (-2.13%)
Prev Close: 8,799.26
Open: 8,798.50
Day's Range: 8,577.90 - 8,798.50


Philippine Unemployment rate for April 2009 at 7.5%.
Philippine Budget Deficit for March 2009 at PhP 52.64 bn.
OFW remittances for the 1st 5 mos. reached $5.5 bn or 2.5% higher than the levels recorded over the same period last year.

The big drop in WallStreet had the local equities market post a steep drop. The Philippine Stock Exchange Index (PSEi) tests once again the 2500 support level and ends near its low. The previous day's leaders, TEL and MER were the day's biggest drag as they corrected from their previous rise.

PSEi previous close - 2612.85 (June 15)

time------------down-----------PSEi
9:31----------19.69----------2593.12
9:32----------25.22
9:33----------34.84
9:34----------43.59
9:35----------50.65----------2562.20

The market went into a freefall in the first few minutes of trading.

9:38----------56.42
9:39----------57.09
9:42----------59.03
9:44----------64.40
9:45----------64.78
9:48----------66.45
9:49----------68.68----------2544.17

The market tries to recover.

9:51----------62.05
9:55----------58.16
9:56----------56.05
10:01---------54.98
10:02---------51.41
10:03---------48.43

10:08---------52.01
10:13---------47.01
10:17---------46.69---------2566.16

Another round of sell-down drags the market lower again.

10:18---------54.11
10:19---------54.29
10:27---------58.27
10:30---------59.88
10:31---------62.71
10:32---------63.59
10:36---------70.46

10:44---------68.51
10:46---------70.76---------2542.09

The PSEi tries to consolidates in the next half-hour.

10:52---------68.61
10:59---------66.93
11:01---------69.82
11:04---------68.46
11:09---------69.68
11:14---------71.85

The market again falls prey to another sell-down in the last part of the trading session.

11:16---------72.70
11:21---------73.67
11:23---------75.56
11:36---------77.75
11:38---------81.59----------2531.26

11:39---------76.38
11:45---------80.98
11:46---------84.66
11:47---------85.14
11:48---------91.44
11:49---------92.10
11:50---------93.00
11:52---------96.31
11:53---------99.77
11:54--------100.65
11:55--------101.67----------2512.68 (day's low)

11:58---------96.93
12:01---------98.68----------2514.17 (-3.78%)
Market Close.

Value turnover: PhP 4.018 bn
Cross transactions: PhP 1.348 bn

TEL closes at PhP 2445; lower by 4.49% from its previous close of PhP 2560.
It accounts for 32.56 points of the decline in the PSEi.
MER closes at PhP 140; lower by 9.09% from its previous close of PhP 154.
It accounts for 13.19 points of the decline in the PSEi.

Advancers 18
Decliners 122
Unchanged 26

Sectoral Indices:
Property -4.44%
Services -4.07%
M-O -4.01%
Industrial -3.89%
Holdings -3.23%
Financial -2.58%

The Day's Top Gainers:
EURO: PhP 1.60; +6.67%
JOH: PhP 1.38; +6.15%
MED: PhP 0.18; +5.88%

The Day's Biggest Decliners:
EVER: PhP 0.10; -16.67%
ZHI: PhP 0.29; -14.71%
TOL: PhP 9.00; -14.29%

At mid-day:
Asian equities markets were down.
The Philippine Peso continue to weaken and was at PhP 48.410 vs US$ 1.00.


CLOSING PRICES OF SELECT STOCKS (as of June 16, 2009):
ABA: PhP 1.00
ALI: PhP 8.60
DGTL: PhP 1.40
EDC: PhP 3.90
EIBA: PHP 0.26
FLI: PhP 0.75
GEO: PhP 0.63
GOB: PhP 0.17
JOH: PhP 1.38
LOTO: PhP 9.80
MEG: PhP 1.04
MPI: PhP 5.80
MUSX: PhP 0.12
PAX: PhP 2.50
PX: PhP 6.40
SPH: PhP 2.95
SUN: PhP 0.48
TA: PhP 1.00
UW: PhP 0.0975
V: PhP 1.04
WEB: PhP 0.048