The PSE market did close with an up move by 0.73% after news broke out that the FED will conduct an emergency meeting tonight, most likely to alleviate concerns on the market as everything keeps going downhill as of the moment.

Here is the news that probably have triggered a end of the day spike for the market, link courtesy by Investa. The market however is at the red side before the news and is pricing  the bearish sentiment of the US market last Friday.

Courtesy: Investa

The index closed at 5,783 level and still with a net foreign selling of -691 Million making the index stay at the oversold conditions.

For the blue chip stocks MER (5.40%), SM(+4.83%) and ICT (+3.96) led the winners while losers’ were led by WLCON (-9.45%), RLC (-4.13%) and AGI (-3.52%). Mining and Service sector are red for today. Majority of the blue chips are still in the downside. Although most of them are all in oversold condition already.


1MER                  5.40%

2SM                     4.83%

3ICT                     3.96%

4BPI                     2.79%

5JFC                     2.27%

6CNVRG              1.68%

7SMPH               1.66%

8ALI                    0.66%

9MEG 0.49%

10GTCAP 0.10%


1WLCON             -9.55%

2RLC                    -4.13%

3AGI                    -3.52%

4AEV                   -3.08%

5URC                   -2.54%

6JGS                    -2.02%

7PGOLD              -1.95%

8AP                      -1.62%

9GLO                   -1.58%

10MONDE          -1.48%

11ACEN              -1.43%

12TEL                  -1.19%

13SMC                -1.17%

14MPI                 -0.90%

15SCC                  -0.64%

In Asian Markets markets, all stocks major indices are in red as well. The same sentiment can be observe from US markets last Friday.

SymbolNameLast PriceChange% Change
^N225Nikkei 22526,215.79278.581.07%
^HSIHANG SENG INDEX17,067.43-155.4-0.90%
000001.SSSSE Composite Index3,024.39-16.81-0.55%
399001.SZShenzhen Index10,778.61-140.79-1.29%
^STISTI Index3,115.22-15.02-0.48%
^AXJOS&P/ASX 2006,456.90-17.3-0.27%
^AORDALL ORDINARIES6,656.40-22.3-0.33%
^BSESNS&P BSE SENSEX57,145.64-281.28-0.49%
^JKSEJakarta Composite Index7,018.52-22.27-0.32%
^KLSEFTSE Bursa Malaysia KLCI1,391.72-2.91-0.21%
^NZ50S&P/NZX 50 INDEX GROSS10,959.45-106.26-0.96%
Courtesy: Yahoo Finance

US market futures are pointing to a side wards movement for tonight trading.

Yahoo finance Futures

The PSE index rallied by as much as 2% for the day and ended the market in green. It closed by +0.9% much lower than its peak movement. Only 8 stocks from the Blue chips index were in the red.

The oversold condition of the market since last week presented an opportunity for bargain hunters to pick up blue chip stocks.

Bullish Sentiment from the World Bank

The Washington-based World bank lender increased the gross domestic product (GDP) projection for the Philippines from the 5.7% stated in April to 6.5% in its East Asia and the Pacific Economic Update report for October, which was published on Tuesday. This is below the government’s target range of 6.5-7.5% for this year.

On its press release World bank stated “Primary deficits have, on average, resulted in a 1.1 percentage point increase in the public debt-to-GDP ratio. It would be difficult to cope with high debt to GDP using fiscal consolidation as a policy option, according to historical patterns seen in the majority of East Asia Pacific countries”

The market ended at 5,934 index level with a net foreign selling of -495 Million. It did bounce today but our foreigner support is still not there.

PSE Index Chart

For the Blue chip index,  SM (+3.68%), ACEN (3.45%) and JGS (3.29%) led the gainers while the lossers were led by CNVRG (-4.97%), ICT (-3.97%) and AGI (-2.07%)


1SM                    3.68%

2ACEN                3.45%

3JGS                    3.29%

4AEV                   3.08%

5RLC                    3.00%

6MPI                   2.99%

7BDO                  2.61%

8JFC                    2.45%

9PGOLD              2.43%

10MEG                2.43%

11TEL                  1.89%

12SCC                  1.81%

13LTG                  1.46%

14URC                 1.17%


1CNVRG              -4.97%

2ICT                     -3.97%

3AGI                    -2.07%

4EMI                   -1.32%

5GLO                   -1.23%

6SMPH                -0.62%

7AC                      -0.46%

8BPI                     -0.33%

As for the ASIAN markets, majority of the Indices rebounded as well taking a cue from the strong bounce of the US markets.

SymbolNameLast PriceChange% Change
^HSIHANG SENG INDEX17,143.27-107.61-0.62%
000001.SSSSE Composite Index3,041.14-3.93-0.13%
399001.SZShenzhen Index10,918.4118.720.17%
^STISTI Index3,135.6919.380.62%
^AXJOS&P/ASX 2006,555.00931.44%
^AORDALL ORDINARIES6,760.60100.81.51%
^BSESNS&P BSE SENSEX56,718.65120.370.21%
^JKSEJakarta Composite Index7,060.82-16.21-0.23%
^KLSEFTSE Bursa Malaysia KLCI1,401.76-0.13-0.01%
^NZ50S&P/NZX 50 INDEX GROSS11,200.0480.470.72%
^KS11KOSPI Composite Index2,170.931.640.08%
^TWIITSEC weighted index13,534.2668.190.51%

US stocks closed the market with a strong technical move with Dow Jones closing by +1.88%, S&P500 up move of +1.97% and Nasdaq index moving by +2.15%

US Index Source: Yahoo finance

US Indices futures are pointing to a bearish Thursday trading.

Source: Yahoo Finance