Daily Market Notes Thursday May 31 2007

PSEi 3,474.67 UP 76.12
VALUE PHP 6,994,525,120.0

Up 2.2%, but NFB does not wander far from NFS despite 7Bphp overall value turnover.

All eyes were on wall street last night but they chose to ignore China's move and decidedly closed up by over a hundred points, helped by former Fed chair Greenspan that China moves to cool down their equity markets and any bursting bubble effect will have impact China more and other global markets less.

By 11 a.m., GDP was announced to be at 6.9%, expected was only 5.7%. This was the fastest growth in 17 years. I tell you, why not always revise our growth projections to be on the much lower side, so as we will always be surprised by "better than expected" results.

Curiously though, NFS bugs the following stocks: MBT 95M, URC 74M, SM 52M, ICT 21M.

A tally of the huge NFB roster reveal: 131M from EDC's zoom up to 6.2, 50M from AC 530UP, BPC 4.7 UP, 39M, ALI 15.5 UP, 157M, TEL 2555 UP, 166M.

The top gainers were the 2nd-3rd liners PEP WEB PRC IS DIZ IMP UW, some of which had no volume.

TOTAL FOREIGN BUYING : P 4,551,923,609.00
TOTAL FOREIGN SELLING : P 4,156,902,120.83

FIRST GEN CORPORATION 2,453,600 @ P60.5 (P 148,442,800.00)
MANILA ELECTRIC CO. "B" 600,000 @ P90.5 (P 54,300,000.00)

TOTAL (P 202,742,800.00) %MKT 2.90

OPEN 3,444.85

HIGH 3,474.67
LOW 3,443.26


NFB = Net Foreign Buying
NFS = Net Foreign Selling
PHP = Philippine Peso
PSEi = Philippine Stock Exchange Index

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