As expected, after failing to hold onto 7,200, Team Viagra won’t just allow the headline index to scuttle further. So they had to double their efforts to ensure that losses today won’t be deep. The end session pump have been intensive because today's session marks the last trading day of the month. And this may have accounting significance.
As a side note, let me add that Team Viagra’s actions have not been limited to cushioning losses but likewise amplifying gains during runs
Down .35% a second prior to the runoff phase, Team Viagra used marking the close during the market intervention phase to wipe off an astounding 90% of today’s losses. So the day closed nearly unchanged (-.05%)
Team Viagra had to make sure that each sector was covered, so they pumped select issues from each of the following major sectors
As one would note, JGS has become one of the latest favorite. Deep losses by JGS suddenly became unchanged for the day due to a staggering 1.2% pump.
Today’s push on JFC contributed to 28% of the stock’s weekly gain
Oh, before I close I included last Tuesday’s minor marking the close.
As one would note, the rampant and intensive use of last minute pumping happens ONLY in the Philippines!
Such rigging of the marketplace tell us why unscrupulous activities--like an international online hacking-heist, which ended up on a local bank--occurred. Add to this accusations over DBP's bond market manipulation.
And the public has been made to believe that the Philippine credit fueled boom has been puritanically based.
Charts and Images from PSE, Bloomberg, Colfinancial and Technistock