Illustrative image (Photo: Bloomberg) Hanoi (VNA)– The Philippine Stock Exchange has shut down trading starting March 17 untilfurther notice, as part of the country’s effort to curb the spread of thecoronavirus pandemic (COVID-19).
This move made thePhilippines become the first country in the world to close the stock market dueto the COVID-19.
It is in line with PresidentRodrigo Duterte's decision on March 16 to widen a month-long lockdown of thecapital region to cover the country's main Luzon island, home to at least 57million people.
The Philippinesbenchmark index fell 8 percent on March 16 and is down 20 percent for March sofar, already its worst since October 2008.
As of 16:00 on March17, the Philippines reported 187 confirmed cases of COVID-19, with fourrecovered patients and 12 deaths.
Several stock marketsaround the world have also closed their trading floors or suspended tradingfollowing the deep plunge of key indexes./.
This move made thePhilippines become the first country in the world to close the stock market dueto the COVID-19.
It is in line with PresidentRodrigo Duterte's decision on March 16 to widen a month-long lockdown of thecapital region to cover the country's main Luzon island, home to at least 57million people.
The Philippinesbenchmark index fell 8 percent on March 16 and is down 20 percent for March sofar, already its worst since October 2008.
As of 16:00 on March17, the Philippines reported 187 confirmed cases of COVID-19, with fourrecovered patients and 12 deaths.
Several stock marketsaround the world have also closed their trading floors or suspended tradingfollowing the deep plunge of key indexes./.
VNA
