PSEi 2,864.18 DOWN 19.03
value php 2,322,162,325.00
DOW 118.20 +1.17% 10,185.53
NASDAQ 23.85 +1.11% 2,171.20
S&P 500 15.32 +1.43% 1,089.19
US Data: strong ISM (manufacturing gauge) numbers, but weak construction data helped create a reason to fuel triple digit rally for the Dow. Although last week’s GDP growth had more weight.
For local stocks, it was the same old story. Shy at the open. Stare down as to who will blink first. Guns fired. Then the heavy artillery anti riot selloff began once again.
What started out as a 20 point gain ended with a 20 point loss for the index, with losers weight almost equally distributed to and numbering half the index stocks this time.
Index Loser leaders were EDC AC MBT PX ABS BEL FPH ICT, while index gainers were MER (only at the close), SMCB MWC URC JFC.
Overall worst losers include IMI 28.50, MED .43, MPI 2.28 (with volume and all star cast selling: CLSA, JPMorgan, ATR, ubs, tower), BEL suddenly turned sour from 1.64 at the open to 1.44 but closed 1.50.
So why is our country’s index acting like this? Too quick on the draw to sell? My answer would be that our market has too little volume, and that what BIG ORDERS of selling that should be done in a day or two (in other countries) might take instead a week or two. That is why big funds are selling where they can, when they can, so long as there are buyers.
TOTAL FOREIGN BUYING : P 970,013,390.50
TOTAL FOREIGN SELLING : P 705,765,452.50
SPECIAL BLOCK SALES:
AGI 7,176,000 @ P4.7 (P 33,727,200.00)
———————
TOTAL (P 33,727,200.00) %MKT 1.45
=====================
NO. OF ADVANCES: 27
NO. OF DECLINES: 88
NO. OF UNCHANGED: 48
NO. OF TRADED ISSUES: 163
NO. OF TRADES: 8,926
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
About dragon
Recent Comments