PSEi 2,981.25 DOWN 30.82
value php 2,710,161,855.00
DOW 104.14 -1.00% 10,285.97
NASDAQ 16.62 -0.76% 2,172.99
S&P 500 11.32 -1.03% 1,091.94
The term "recovery worries" is once again being used as reason for this natural correction. Global markets are lower 1 to 1.5% at least. Crude oil on the NYMEX "slips" to the $73 area. The Philippine Peso should be much stronger on remittances, hits $45 level but returns above $46 on recovering dollar and PPPT that deems it wiser to have a weaker peso. Gold that was 1210 just the other day falls to 1134 right now.
Our index breaches 3000. By closing, only 4 PSEindex stocks gained slightly: ABS DMC BEL HLCM. About half were losers led by TEL 2590, PX 15.25, MER 200 SMPH 9.6.
Top overall gainers with relative volume were JOH 3.8, ABSP 31, PERC 7.30. Top losers were OPM/B .015 (can't seem to pass .016), LIHC 11.75, OM .008, UPM .008, NI 5, AAI 13.25.
Impatient investors should cool their heels and relax as these drops are natural parts of the process. Anyone still with money should use this opportunity to position themselves ahead of the coming 2 to 3 months, which are seasonally the strongest ones of the year.
TOTAL FOREIGN BUYING : P 1,077,297,915.10
TOTAL FOREIGN SELLING : P 1,025,336,180.02
SPECIAL BLOCK SALES:
PHIL. LONG DIS TEL CO. 43,986 @ P2625 (P 115,463,250.00)
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TOTAL (P 115,463,250.00) %MKT 4.26
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NO. OF ADVANCES: 28
NO. OF DECLINES: 84
NO. OF UNCHANGED: 58
NO. OF TRADED ISSUES: 170
NO. OF TRADES: 8,048
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