ACCORD CAPITAL EQUITIES CORPORATION

GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (632)687-5071 (trunk)
DAILY REPORT No. 004_2011 for January 7_Friday
PSE Index Pts Change % Change Volume (m) Value (phpm) Advancers Decliners Unchanged
4,217.25 4.27 0.10% 2,045.39 4,343.59 92 62 33

Daily Wrap: Thursday PHILIPPINE M ARKET

SECTOR INDEX Pts Change % CHANGE
EVEN as technical suggestions continues to favor a further a ALL 3,029.14 -0.19 -0.01%
FINANCIA L 964.67 -4.59 -0.47%
much wider drop, investors took notice of stronger services INDUSTRIAL 7,443.26 -7.60 -0.10%
data from the US, borrowing optimism from the Dow's HOLDING FIRMS 3,464.21 39.68 1.16%
decent numbers overnight. PROPERTY 1,558.42 -6.98 -0.45%
SERV ICES 1,585.24 -0.90 -0.06%
The composite measure added 4.27 points to settle at MINING & OIL 13,882.06 229.15 1.68%
As of 1210H 6. Jan. 2010
4,217.25, keeping to the average daily trading band of 20 ASIAN MARKETS
to 25 points. The Broader measure however slipped, albeit COUNTRY INDEX LAST % CHANGE
by only 0.19 points. Only the Holding Firms and Mining & ASIAN REGION MSCI APEX 50 885.55 0.04%
JAPAN TOPIX 921.89 1.12%
Oil sectors tracked the main index. JAPAN NIKKEI 225 10,506.00 1.21%
CHINA HANGSENG 23,786.02 0.11%
On a positive note, advancers got the measure of decliners, CHINA SHA NGHAI 2,831.98 -0.24%
leading 92-62 with 33 counters unchanged. Value turnover TAIWAN TAIEX 8,854.94 0.15%
expanded to php4.34 billion from the prior session's SOUTH KOREA KOSPI 4,452.46 -0.07%
AUSTRALIA S&P/ASX 200 4,712.70 -0.05%
php4.05 billion as a little over 2.0 billion shares changing AUSTRALIA ALLORINDA RIES 4,819.30 -0.03%
hands. NEW ZEA LAND NZ50 3,233.22 -0.05%
PAKISTAN KARACHI 100
Asian markets were trading higher at the noon close albeit SRI LANKA Sri Lanka Colombo
most Southeast Asian bourses slipped. THAILA ND SET 1,052.25 0.14%
INDONESIA JKSE 3,753.94 -0.79%
Markets were encouraged by the foundations of the Dow's INDIA BSESN 20,285.53 -0.08%
SINGAPORE Straits Times 3,273.17 0.58%
overnight 31.7 points advance riding on the strong numbers MALAYSIA KLSE 1,563.88 -0.15%
from the manufacturing and services sectors. Analysts see VIETNA M HO CHI MINH 482.31 0.08%
this to translate to better employment figures when the data BANGLADESH DSE General Index
MONGOLIA MSE Top 20
is reported out later this week. Over-all confidence has As of 1215H 6. Jan. 2010
significantly risen that the economic recovery off the
recession has not only gained traction, but is more importantly, adding strength.

Outlook for Friday:

The market posts gains of 0.38 percent through the first four
sessions of the week. The technicals however continues to
paint a worrisome near-term picture. The conditions
described in yesterday's report on the MACD, STO and MFI
were hardly changed as are our readings off them.
Although the index has risen above successive downtrends,
MACD and STO are still pointing to the “necessity” of a
healthy corrective action over the near term.
The AccDist Line remains in a medium-term uptrend,
although an increased negative pressure moving forward,
may cause a break of this trendline.
We maintain however that, through Q1, these anticipated
dips are buying opportunities.
The market will remain locked in its narrow band of 4,200-
4,230 with extremes at 4,170 and 4,250, respectively.

DISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE AVAILABLE TO
OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE INFORMATION HEREIN IS
FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. IN ADDITION, WE
SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF THE VIEWS EXPRESSED IN THIS
REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR INVESTMENT PROFILE OF THE COMPANY OR THE
INDUSTRIES MENTIONED.
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