They’re back in business!
Last Monday, the Philippine Stock Exchange, Inc. (PSEi) announced that they would be suspending operations indefinitely following the Novel Coronavirus (Covid-19) outbreak. But the very next day, they retracted their statement, choosing to open trading effective March 19, but on a half-day basis.
According to the official memo issued on March 17, trading at the PSEi, along with clearing and settlement at the Securities Clearing Corporation of the Philippines (“SCCP”) will operate on these shortened trading hours:
- 9:00 a.m. – Pre-Open
- 9:30 a.m. – Market Open
- 12:45 p.m. – Pre-Close
- 12:50 p.m. – Run-off/Trading-at-Last
- 1:00 p.m. – Market Close
Furthermore, the PSEi trading floor will be closed and will be inaccessible to trading participants. Trading will take place remotely in offsite locations, as prescribed by the national government’s Inter-agency Task Force on Emerging Infectious Diseases.
As of March 16, the Philippine Stock Exchange index was at 5,380.51 points. They were down by 7.14% or 413.43 points.
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