The Philippine Stock Exchange will suspend trading starting Tuesday, March 17, until further notice, following the central government’s decision to imposes home quarantine measures on the entirety of Luzon.
On Monday, Philippine President Rodrigo Duterte addressed the nation on the spread of COVID-19 – the disease caused by coronavirus – and placed Luzon under “enhanced community quarantine” until April 12.
Since the quarantine announcement, the president and CEO of the Philippine Stock Exchange, Ramon Monzon, declared that all trading activities at the exchange would be suspended starting March 17 in order to “ensure the safety of employees and traders.”
“This is in connection with President Rodrigo Duterte’s announcement placing the entire Luzon under an ‘enhanced community quarantine,” Monzon said in a letter addressed to the investing public and trading participants.
“Please be advised that there will be no trading at the Philippine Stock Exchange, Inc. and no clearing and settlement at the Securities Clearing Corporation of the Philippines starting tomorrow, March 17, 2020 until further notice to ensure the safety of employees and traders in light of the escalating cases of the coronavirus disease (COVID-19),” he said.