The January 28 Report

Market Commentary

Following the triple digit decline of the DOW last Friday, it was but natural for us to follow suit. Decoupling or no decoupling though, today's performance was actually better than the rest of Asia. Just look at the bloodbath that ensued in other big Asian markets:

Hong Kong -4.25%
Japan -3.97%
Singapore -3.75%
Shanghai A -7.20%
Korea -3.85%

Philippines -1.05%

This is probably due in part to the recent good news from Moody's. Moreover, in this recent Bloomberg article, Asian Fund fund managers have actually INCREASED their stake in selected SE Asian countries, which include us.

As of this writing, Europe is also down, so the pressure is on the DOW tonight. The DOW futures is down 101 points as of this writing (Philippine time 6:40PM).

Volume : 789,554,207
Value: 2,390,054,000
Trades: 5,777

ALI, MER, and BPI led the blue chips in green territory, while the rest of the index-linked stocks were bloodshot.

Total UP stocks were 20, 77 counters were down and 51 were unchanged from Friday.

Peso / $ = 40.950.

Stock, Stuck, Suck

Everything pretty much sucks, everybody's probably stuck, so what's left to stock?