U.S. indeces take a tiny drop while Japan takes a beating

While U.S. market indeces took a few steps down, Japan's market dropped a whopping 4.8%.
The PSEi inched down and settled a mere 1.79 points from yesterday's close after ever so briefly punching past the psychological 2000 level at around eleven this morning. 

The dow was down 1.46%, the nasdaq by 2.09%, the s&p by 2.26%.


Comments

Post a Comment

Popular posts from this blog

another day in the green but with low trade volume

Today's close (May 20, 2008) was in the green with the PSEi at 2896.15, +18.69 from yesterday. Value turnover was unexciting at Php2.4B. Surprise for those expecting correction While 18.69 points is not a large increase, it comes as a surprise to me. This week's outlook was for more correction. With inflation taking the limelight, that prediction seemed sound. On top of that, we just saw a rally of about eight days. What comes up, must come down. Surprise, surprise... Yesterday's drop of only 2.49 points to 2,877.46 was also rather pleasant as it was quite negligible for the composite index at only -.1% Less worrisome numbers With the market making gains, even though rather weak for my taste, I'm getting more positive about where this market may be going. My gut feel is that it's getting ready to push up hard and fast.
Read more

What's the big deal with call centers in the Philippines

As I imagine the point of view of a fresh College graduate in the Philippines, call centers do not exactly seem like a prestigious choice for work.  It's really about the salary.  Work is hard, hours are tough and it's hard to call it fulfilling.  But there are hordes of Filipinos signing up and taking home a lot more money than they could before.  Notably, Filipinos turn out to be really good at customer service thanks to our general politeness and fluency in the kind of English Americans use - something that matters since most clients are American.  It turns out there's a practical side to our obsession with American movies, television and music.  We can answer their phones.  While that's not glamorous, it's a humongous part of the Philippines' recent economic renaissance. I'm all for a common sense approach so this may seem like a simplistic analysis. With more than just a mob of young Filipinos getting what is arguably excellent pay for local sta...
Read more

good news travels fast, bad news even faster

The R word The overused word for the month of January is recession. Everyone talks about it because its rearing its ugly head in the U.S. and for better or for worse, what happens in the U.S. affects almost, if not, the whole world. The debate is ending The long and seeminlgy unending debate on whether the U.S. will head into a recession seems to be tipping in favor of a recession. That chilly word is all over CNBC and even Ron Nathan who has long been arguing that it isn't here yet nor is it coming seems to have modified that opinion a bit. Good news in there, somewhere The gloom and doom in his last article didn't sit too well with me so I prefer not to mention those points here. But I very much like that he ended by pointing out that: "There are signs that the Philippine Stock Exchange index may be bottoming out. Foreign selling stopped last week after seven continuous weeks averaging nearly P1 billion a day. I suspect the pension funds are buying heavily, especiall...
Read more