Philippine Stock Exchange shuts down almost indefinitely

The Philippine Stock Exchange shuts down and has suspended trading today on 17th March, Tuesday, until further notice. This notification came in the light of the central government’s decision to impose a home quarantine measures in the entire Luzon, Philippine’s largest and most populous island.

Coronavirus has given the world including Bitcoin a jolt that’s sending its ripples till date and this appears to be another aftershock of the deadly COVID-19.

Philippine Stock Exchange shuts down to COVID-19 threat

President of Philippine Rodrigo Duterte on Monday addressed his nation on the prevalent pandemic COVID-19. In his address, he instructed to place Luzon under quarantine until 12th April, however, it is subject to further exention if needed.

Since the announcement of quarantine by the President of the Philippine, Ramon Monzon, president, and chief executive officer of the Stock Exchange have declared halting all trading activities to ensure that the stock exchange shuts down from 17th March ensuring the safety of traders and employees.

In his letter to trading participants and investing public he stated that in connection to the announcement of President Rodrigo Duterte regarding the escalating cases of COVID-19, there would be neither any trading at the stock exchange nor any clearing and settlement at Securities Clearing Corporation from March 17, 2020, until any further notice.