ACCORD CAPITAL EQUITIES CORPORATION

GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, 1605 (+632)687-5071 (trunk)

SECTOR PSEI ALL FINANCIAL INDUSTRIAL HOLDING FIRMS PROPERTY SERVICES MINING & OIL

PHILIPPINE MARKET, DAILY STATS INDEX Pts Change 4245.28 33.47

% CHANGE 0.79%

DAILY MARKET REPORT

TD 120-121_June 22-23, 2011
COUNTRY ASIAN REGION JAPAN JAPAN CHINA CHINA TAIWAN SOUTH KOREA AUSTRALIA AUSTRALIA NEW ZEALAND THAILAND INDONESIA INDIA SINGAPORE MALAYSIA VIETNAM ASIAN MARKETS LATEST UPDATE INDEX LAST MSCI APEX 50 861.79 TOPIX 829.61 NIKKEI 225 9,637.10 HANGSENG 21,922.70 SHANGHAI 2,638.48 TAIEX 8,621.04 KOSPI 2,071.56 S&P/ASX 200 4,535.90 ALLORINDARIES 4,596.70 NZ50 3,457.46 SET 1,028.67 JCI 3,820.69 BSESN 17,589.80 Straits Times 3,059.11 KLCI 1,562.68 HO CHI MINH 439.63 www.bloomberg.com AS OF 1355H % CHANGE

2,971.22 935.08 7,131.40 3,506.80 1,508.84 1,528.10 18,729.38

17.73 7.05 53.83 12.92 19.69 12.44 374.14

0.60% 0.76% 0.76% 0.37% 1.32% 0.82% 2.04%

0.65% 1.70% 1.88% 0.33% -0.30% 0.27% 114.00% 0.61% 0.69% -0.06% 0.09% 0.68% 0.17% 0.18% 0.12% -0.70%
6/22/11

UROPE and US equities gained and the euro fell after Greek PM George Papendrou narrowly won a vote of confidence in Parliament. S&P500 Futures however were little changed after the victory, indicating a probable snap of the 4-day romp, with attention shifting back to the fate of an austerity measures bill that may be a key to unlock a second EU-IMF bail-out. Philippine shares extended its run to a second day, putting more separation with the psychological support line and approaching the lower end of a resistance band. The PSE Index ralled 33.47 points to 4,245.28, 0.8% higher. All sectors finished in the green with the broad All Shares Index rising 0.60% to 2,971.22. Gainers edged decliners, tw0-to-one, while 43 counters kept prices level. Value turnover tipped the averages at php4.824 billion on 3.065 billion shares changing hands.

Greek PM George Papendrou narrowly escaped a no-confidence vote in Parliament. While this pushed markets higher at close, the shift of focus to whether Papendrou can translate this to a support in the same Parliament for a 78 billion euro austerity plan pulled futures indexes lower. At the noon close, Europe and US futures are marginally in the red. The market's technical picture has shown marked improvements on the back of the two session advance. The index has been restored to within the 4,200-4,320 band. This is a condition we had identified that should restore a modicum of confidence to local equities. The trends in the underlying technical indicators of momentum and strength lends further encouragement. MACD (12,29,6), although still negative, is poised to make an upside penetration of the signal line a short-term buy signal, at the least. RSI (14) is in a defined short-term uptrend, raising the bottom and breaking past immediately preceding high points. Finally, STO(14,3,3) shows a sustained positive momentum. Immediate market range is between 4,200 and 4,270.

, 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. DAILY Report Page 1 of 1