The Philippine Stockmarket Rebounds - February 09, 2007

The Philippine stockmarket bounces back after the past day's downtrend. It easily hurdled the 3,200 level as bargain hunters came back in a big way. The economic good news that have been filtering the past week had investors just waiting on the sidelines for a signal to buy in the market.


The day's market February 9 ,2007

PSEi previous close: 3196.08 (Feb 08)


time-----------up / down------------PSEi-----------PhP vs $----------PhP vs $ volume

9:31----------down 2.99-----------3193.09
9:45----------up 28.76 -----------3224.84----------48.347------------Php 49.50 mn
9:47----------up 32.97------------3229.05
9:56----------up 49.60------------3245.68
9:58----------up 52.71------------3248.79
10:00--------up 54.76------------3250.84
10:01--------up 57.60------------3253.68
10:11---------up 55.16-----------3251.24
10:16----------up 57.00---------3253.08
10:19-----------------------------------------------48.340-----------------87.50mn
10:23----------up57.83----------3253.91
10:34----------up 59.39--------3255.47
10:48----------up 59.29---------3255.37
10:56----------up 59.29---------3255.37
10:59-----------------------------------------------48.313----------------189.87mn
11:00----------up 59.91---------3255.99
11:02----------up 61.63---------3257.71

the day's high

11:08----------up60.32---------3256.40
11:10----------up59.04----------3255.12
11:21----------up53.05----------3249.13
11:31----------up47.98-----------3244.06
11:36----------up44.24----------3240.32
11:42----------up46.96---------3243.04
11:45----------up 49.28---------3245.36
11:50----------up45.77---------3241.85
11:56----------up43.71---------3239.79
11:59----------up 50.11--------3246.19
12:00---------up49.73----------3245.81 close

The rebound was led by PLDT as it had corrected from a high of Php 2820 which was attained on January 25, 2007. It gained PhP 90 for the day to closse at PhP 2550 from PhP 2470 previously.

There is liquidity in the market system and fundamentals are intact. As mentioned in the previous days'; deep corrections may be seen as buying windows.