DMN May 17

PSEi                 3,289.31         DOWN   41.11
value php                3,493,049,132.50

Dow  10,620.16    -162.79    (-1.51%)
S&P 500  1,135.68    -21.75    (-1.88%)
Nasdaq    2,346.85    -47.51    (-1.98%)

Renewed Eurozone debt fears and Wall Street’s continued correction set the momentum for Asia’s downward trek this morning.

Our own PSEi was being its own resilient self.  turning down 30 at the open and recovering over half of this before a computer glitch halted the momentum AND the market.  Coinciding with this fact was Asia’s strengthening decline at that time, particularly the Hang Seng.  Down 300 which turned into an uglier down 500.  Wall Street’s Dow Futures lower by triple digits also helped fuel anxiety that by the time our local markets resumed trading, the selling just got more pronounced.

This left the PSEi below the breakout point of 3322, and well below last week’s high of 3330.

Only 7 index stocks were left in the green, led by JGS at 12.75 who reported its income increase 5 fold, MBT ICT URC BDO JFC LCB.  Over 2/3 of the index issues lost ground, led by ALI 13.75, EDC 5.10 (still falling?), PX AEV AC TEL.

Even past strong leaders AP 17 AEV 18.25 DMC 15.5 LOST to the bear.

The banks and TEL were still relatively favored by the foreign buying today.

Top losers were OM ALI MPI PNB DMC MEG.

TOTAL FOREIGN BUYING   : P  1,266,113,451.50
TOTAL FOREIGN SELLING  : P  1,339,958,612.00

TEL CO.                  8,000 @ P2505          (P     20,040,000.00)
TEL CO.                  9,030 @ P2505          (P     22,620,150.00)
TEL CO.                 25,000 @ P2501.8885     (P     62,547,212.50)
TOTAL (P    105,207,362.50)     %MKT   3.011
NO. OF ADVANCES:              36
NO. OF DECLINES:              80
NO. OF UNCHANGED:             55
NO. OF TRADED ISSUES:        171
NO. OF TRADES:             9,432


  1. j.a.romualdez says:

    the bright side of “losing to the bears” is that strong
    stocks like AP, AEV, DMC, and others are given a chance
    to breathe and step back before surging to the next higher price.
    kelangan yan sa mga stocks. those with higher anxieties
    are probably foreign sellers who can’t keep their eyes
    off the wobbling Euro and Greek worrying debts.

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