Psei 4,397.30 | up 15.44 | 0.35%
Value php 4.8B
Dow Jones 11,215.13 +26.41 (0.24%)
S&P 500 1,197.96 +4.39 (0.37%)
Nasdaq 2,540.27 +6.75 (0.27%)
The elections were over and done with, and nobody had to die like in some country we know. The Republican party took the lower house, while they failed in winning the Senate. In the meantime, QE2 was a relative “success”, as the Fed vowed to buy $600 billion of U.S. bonds. This will consequently weaken the dollar further, and strengthen most other pairs.
Policymakers from Brazil to South Korea and China on Thursday pledged to come up with fresh measures to curb capital inflows after the U.S. Federal Reserve said it would print billions of dollars to rescue the economy.
In the meantime, Asian equities rallied over 1 to 2%, with the Philippine Market barely able to hold it together and only manage to stretch the bounce by closing.
The advances to decliners ratio was not too much in favor of the bulls, as is with the slice of the pie with index gainers versus losers. Making up the bulls’ camp were the index issues: JFC AEV RLC SMC SECB MEG CHIB PX AP MER.
TEL’s 28 peso loss to 2652 shaved 7 points from the index, as did losses from BDO SM ICT ALI LC/B MWC EDC MBT all contributing as well.
CEB’s engines were active again, low of yesterday was 116, close 119.80, and closed 122.4 today.
The other best gainers with relative volume were MEGW2 1.7 APX 4.75, APX 4.8, HLCM 11.12, RLC 18.20 MA/B .022/.023, SMC 92, LIB 3.64, ACR 1.48, ANS 3.2 and PNB 70.95
FOREIGN BUYING Php 2,427,240,381.7
FOREIGN SELLING Php 2,347,605,702.05
(been almost even for two days now)
NO. OF ADVANCES: 71
NO. OF DECLINES: 63
NO. OF UNCHANGED: 45
NO. OF TRADED ISSUES: 179
NO. OF TRADES: 14945
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos