Riyaz ul Khaliq
March 17, 2020•Update: March 17, 2020
ANKARA
The Philippines Stock Exchange shut its services until further notice amid global crisis triggered by the spread of fatal coronavirus.
In a statement on Twitter, the exchange market said Monday there would be no trading activity following quarantine measures taken by the government.
“There will be no trading and clearing and settlement at the PSE/SCCP [the Philippines stock market] tomorrow, March 17, 2020, until further notice, due to the enhanced community quarantine implemented in Luzon,” it said.
Thus, the Philippines became the first country to shut financial markets as a preventive measure against the virus.
The Philippine market said the step was taken after President Duterte Rodrigo on Monday imposed complete lockdown on northern Luzon island which hosts more than 57 million residents, covering the capital Manila.
The coronavirus has infected 142 people in the Philippines and killed 12 others.
On Tuesday, Duterte joined Filipino armed forces at a checkpoint to oversee implementation of strict lockdown on Luzon.
The COVID-19 disease has killed over 7,000 people across the globe, most of whom, over 3,000, died in China, where the new virus originated last December.
There are some other 182,500 cases infected by the virus in over 150 countries and territories, according to data by John Hopkins University in Maryland.
The disease has triggered lockdowns, cancellation of flights in many parts of the world.
