Listing By way of Introduction, suspended – PSE
February 21, 2010 by dragon · Leave a Comment
The Philippine Stock Exchange (PSE) has suspended its Rules on Listing by Way of Introduction under its Revised Listing Rules and will stop accepting applications under these rules which has been considered a loophole in its stringent listing requirements.
The recently revised PSE rules allows firms to list their shares at the bourse without first undertaking an initial public offering as long as they are required to go public by law and of they commit to do an IPO within 12 months.
In a memoradum dated February 18 but posted on February 19, PSE general counsel and issuer regulation head Roel Refran said the bourse’s board decided on the temporary suspension of the rules in their meeting last February 17.
Daily Market Notes January 15, 2010
January 15, 2010 by dragon · Leave a Comment
PSEi 3,118.47 DOWN 3.44
VALUE PHP 3,963,737,175.00
DOW 29.78 +0.28% 10,710.55
NASDAQ 8.84 +0.38% 2,316.74
S&P 500 2.78 +0.24% 1,148.46
Dow Industrials and Dow Transports both make fresh year highs together. Good as per Dow Theory.
TOTAL FOREIGN BUYING : P 2,679,644,995.00
TOTAL FOREIGN SELLING : P 1,792,196,061.90
NFB. Healthy. Increasing Value turnover. Healthy.
So far so good as blue chips lead the breadth of the gainers. Local trading index even hit a day high of 3133, which was an uptick of 15 points, succumbed to profit taking, sank 5, gained 10, but sank 3 by the close.
Here's the tally of the net foreign activity:
NFB: bdo 27m, bpi 90m, edc 240m, urc 30m, agi 107m, ac 11m only, glo 19m, tel 14m,
Daily Market Notes November 24, 2009
November 24, 2009 by dragon · Leave a Comment
PSEi 3,074.66 UP 26.66
value php 4,220,691,731.40
DOW 132.79 +1.29% 10,450.95
NASDAQ 29.97 +1.40% 2,176.01
S&P 500 14.86 +1.36% 1,106.24
Wall Street surges to fresh 52 week highs on a strong housing report and a rally in commodities, plus weaker dollar. Asia did not seem to bite today as they already had some semblance of a rally yesterday.
I say they not we, because as usual, the PSEi takes on an oblivious indifference to general sentiments today. This is largely due to TEL's sole performance at 2600, carrying the market higher by 16 points and never budged from that dunce corner or principal's office.
That other leader PX surprises with a continued return to 19, also contributing 6.5 gained psei points. Breadth of gainers were not that good but the usual 1/3 of the other gainers more or less contributed one fluctuation each.
Daily Market Notes November 20, 2009
November 20, 2009 by dragon · Leave a Comment
PSEi 3,068.73 DOWN 14.57
value php 3,445,964,990.00
DOW 93.87 -0.90% 10,332.44
NASDAQ 36.32 -1.66% 2,156.82
S&P 500 14.90 -1.34% 1,094.90
Wall street drops for the second day, Europe and Asia drop around 4 days on the average.
At the onset of local trading, stocks were not bad in their drop, even trading flat for a sizeable duration, before some panic safety selling by the close brought us down over 30, only to recover a little by the close.
Daily Market Notes November 19, 2009
November 19, 2009 by dragon · Leave a Comment
PSEi 3,083.30 UP 30.69
value php 3,031,260,855.00
DOW 11.11 -0.11% 10,426.31
NASDAQ 10.64 -0.48% 2,193.14
S&P 500 0.37 -0.03% 1,109.80
A drop in new home construction made investors jittery about the economic recovery and wary profit outlooks weighed on the technology sector. However, data showing initial construction of new single-family homes fell to a six-month low in October was not enough to kill this bull, as buyers came in at this dip.
Bouncing Boy PX takes the lead from MER TEL, trading 356m worth, and rising 1.25 to 16.50 worth 10 psei points. Add to this volume of MER 239m, and TEL, 231m, ANI 171M, and you total 1Billion pesos, or 1/3 of the day's total lackluster trade.
Daily Market Notes November 18, 2009
November 18, 2009 by dragon · Leave a Comment
PSEi 3,052.61 UP 20.52
value php 4,246,223,035.00
DOW 30.46 +0.29% 10,437.42
NASDAQ 5.93 +0.27% 2,203.78
S&P 500 0.87 +0.08% 1,110.17
Correction slash rally for wall street, continued mixed rally for the pse.
Today, the oddballs PX and MER reclaimed their oddball crown and took the lead. PX rallied 1.25 to 15.25, worth 10.7 psei points, while MER gained 4 to 216 worth 4.7 points. Granted that the past two day's drop despite wall street's 1.4% rally, I guess their trades today pretty much evens out the slate and resets the market.
Some other bluechip rotational buying could be said for ALI 12.25, MBT 46, PNB 26, BDO 39.50, URC AEV JFC DMC. About 1/3 of the index stocks traded flat, whereas the other 1/3 cooperated with the bulls and were down only slgihtly each, led by AC's one fluctuation 5 peso drop to 305 worth 3 points.
Daily Market Notes October 12, 2009
October 12, 2009 by dragon · Leave a Comment
PSEi 2,930.97 DOWN 11.81
value php 2,246,922,315.00
DOW 78.07 +0.79% 9,864.94
NASDAQ 15.35 +0.72% 2,139.28
S&P 500 6.01 +0.56% 1,071.49
Our local market that was up 20 could not hold to its gains as TEL and the property sector were sold down. The weak sentiment was probably due to the extensive damages wrought by successive rainfall from Ondoy and Pepeng which may affect borrowing, harvest, crops, inflation, GDP, and deficit.
Expect support to be at pivot point of 2900, which was once resistance now turned support. Much of asia manage to capitalize on American Equities' gains last weekend.
