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