Daily Market Notes January 13, 2010

PSEi                 3,096.70         DOWN    8.92
VALUE PHP         3,710,995,225.91

DOW     36.73 -0.34% 10,627.26
NASDAQ 30.10 -1.30% 2,282.31
S&P 500 10.76 -0.94% 1,136.22

As expected, Alcoa's weak results resulted in an excuse to sell for global markets mostly higher on majority of 2010's trading days.

Fueling a deeper Asia drop was China's act of raising the bank reserve ratio after allowing bill yields to climb in the past week in an attempt to cool inflation and unsustainable gains in property and stock prices. The cost of insuring against defaults in Asia rose and Indonesia scaled back plans to raise funds.

In local equities, index stocks slightly tilted over 1/3 to the losers' side, led by TEL MER FPH ICT MEG MWC.  TEL's 30 peso drop back to 2700 was in itself worth 8 lost psei points.

MER succumbs below 200 to close 198, for a 4 peso drop worth 4.6 lost index points.

Well, the value turnover of 3.7B including crosses is certainly welcome compared to dwindling holiday volumes below 2b/daily crosses included.

On the plus side for overall gainers we find LC/B .27/.28, PO 4.50 (limit up 50% gain probably on speculation of Manny Villar's candidacy gaining ground), TBGI 4.15 (THOUGH gains to 4.35 intraday were unsustained).

Overall best losers were ISM .06, DFNN 10.5 (my friend counted at least one board seat worth of shares were already sold on the market during its rise the past couple of days), other aborted rallies (for now) FPH 47, CPM 5.90, CYBR .61, MEG 1.40 (broker jpmorgan dumped loads), FLI .93 (with previous accumulator 323 credit lyonnais nowhere to be found)

TOTAL FOREIGN BUYING   : P    996,927,298.50
TOTAL FOREIGN SELLING  : P  1,178,552,810.21

SPECIAL BLOCK SALES:
MWC               81,934,917 @ P15.23        1,247,868,785.91
                                                               ———————
                                                         TOTAL (P1,247,868,785.91)     %MKT  33.626
                                                               =====================
NO. OF ADVANCES:              34      
NO. OF DECLINES:              61      
NO. OF UNCHANGED:             76
NO. OF TRADED ISSUES:        171
NO. OF TRADES:             7,779

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