Index Manipulation: Phisix Pumped 2.28% on a Measly Php 5 billion Volume with 38% of gains from Marking the Close!

Yesterday I wrote,

One of the manipulator’s favorite issue, the Philippines’ largest real estate company, Ayala Land looks likely a new recruit for the bears! Once ALI joins the fold of the bears, expect all the remnants to enlist too.

I must have gotten index managers so incensed for them to frantically push ALI away from the Bear’s territory to send the Phisix 2.28% up today on a slim volume! Of course, this presumes that they read me, which of course is UNLIKELY! :)

(table from PSE)

ALI's fantastic 4.81% surge today was augmented by the SM's 6.24%, the biggest market cap, and AC's 2.95%, the fifth biggest market cap…

(chart from technistock)
 
With such noteworthy gain, peso volume traded at the board was a farcical Php 4.56 billion!  ADD Php 615 million of special block sales, total volume was a mere Php 5.18 billion!

And with such a huge move, advance lead decliners by a margin of ONLY 37! This means that the broad markets were not as convinced by the furious headline rally.

(chart from Bloomberg)
 
And worst, 38% of today’s gains came from marking the close!!!

This suggests that perhaps a significant share of the volume had been directed at issues that represented the three of the five largest market heavyweights. 

And these issues had been forcibly bidded up that culminated with a staggering "marking the close"!

All these tell us that today’s action represented almost a tour de force of index manipulators! 

Manipulators not only wanted to show their relevance or their clout, but they have become so desperate as to mount an orchestrated and coordinated panic buying in support of the index. 

They must have also taken a page out of the Malaysian government’s $4.6 billion stock market rescue fund today.