Philippine Stock Market update Nov 30 DBP Daiwa gets grizzly at the close

PSEi 3,953.70 | down -99.88 | -2.46%
Value 8,238,160,267.00

Dow Jones 11,052.49 -39.51 (-0.36%)
S&P 500 1,187.76 -1.64 (-0.14%)
Nasdaq 2,525.22 -9.34 (-0.37%)

DOW 11k gets a reprieve, as they were saved by the close, from an intraday drop of about 150.  Fears of the Euro contagion was still there, as well as the unending threat of war from Korea.  China falls 3% on fears of a rate hike again.

Local trading was just the opposite. Opening pop of 17 was sold down to about a 50 point drop, which then became only about a 20 point drop. But see that large fall at the close? It was mainly courtesy of dbp daiwa. Gapping down major stocks like ac ali sm mbt bpi JFC at pre-close time of 11:57 a.m.

By closing, the combined drop of the top 5 index losers were well above 70 points: SM 19pts, BPI 18 PTS, SMPH 15, MBT 11, ALI 10.

Here’s a brief run-down of what DBP Daiwa did:
ALI – was doing 15.80 at 11:57 a.m. Daiwa then sold 1.7M shares down at 15.52. 228k shares absorbed and bought by Daiwa himself, the rest mostly 900k bought by PEP.

SM – doing 550 at 11:57 a.m. Daiwa even bought about 65k shares through the day, then he gapped it down and sold 60k shares and closed it at 485!

The trend was clear. Anything that Daiwa sold down heavily today, he just about bought also almost the same volume intraday, except for MBT where he bought 800k and sold down 4.3m shares.

MBT- was doing 70, then DAIWA sold 1.5m shares to close it at 69.40. About 330k shares of the buyers at the close was Daiwa himself, while the rest of the buying was scattered amongst Deutsche, eastern, first metro, etc.

BPI – doing 57, then daiwa dumped over 400k shares at 54.15

JFC – doing 82.10 then Daiwa sold 280k shares at 78 for the close. About 170k shares were bought by Daiwa also at the close.

Why did he do it? we can only speculate again. One thing for sure though, it’s no error this time. Could it be just month end window dressing portfolio? Remember, window dressing could also mean getting rid of some “junk” to make one’s portfolio better.

We’ll know for sure by the close. Barring any further exacerbated drops, and everything left to its own devices, we may easily recover those lost 70 points tomorrow.

In the world of top overall gainers, we have: ATS 1.81 MUSX .096, LCB .39, PCOR 12.46 (Swell earnings), ICT 41.25 (wow, a day low of 38.60!), LC .345, ABS 46.50, PX 13.94 DAY low of almost 13, UBS bought over 2m mostly at the close!, hlcm 13.32.

Also a lot of losers: SLI 1.91, SM GSMI 30, JGS 21.50!!!, ACR 1.42, BPI 54.15,

LC/B turned ex-rights today. Meaning last day to hold was last Friday, and even if you sold down today, you would still be entitled to rights.

FOREIGN BUYING      Php 5,678,079,386.54
FOREIGN SELLING      Php 5,055,471,487.36

Breakdown of net foreign trade:
NFB: BDO 50M, AP 575M, EDC 61M, AGI 114M, CEB 55M, PX 36M,

NFS: BPI 58M, MBT 168M, MER 44M, SM 60M, ALI 23M, MEG 57M, TEL 49M,

*AS OF afternoon time, Shanghai has come off its 3% drop lows, and is only down 1.6%, even the Hang Seng is lower by less than 1%.

Peso is still at 44, while crude has risen to 85.  Expect another round of fuel hikes in local pump prices this week!

NO. OF ADVANCES:       36
NO. OF DECLINES:       100
NO. OF TRADES:                15462


  1. Average Joe says:

    Nice summary of Daiwa’s sell down…

  2. On June 16, 2011, Thursday, DBP Daiwa, at 12:00 noon, brought down VLL to 3.01. On June 17, 2011, Friday, DBP Daiwa, at 12:00 noon again, sold down the following: TEL, JFC, BPI, BDO. It brought up, at 12:00 noon: MPI, AGI, CEB.

    I’m not sure how significant DBP Daiwa’s transactions were…but towards market close, the PSE Index went negative…

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