PSE Trading Resumed Today, But P1.16 Trillion in PH Stock Value Wiped Out
After trading was suspended for two days, the Philippine Stock Exchange (PSEi) resumed activities today.
At the start of trading, the PSEi recorded a 12.4-percent tumble, once again triggering a circuit breaker or a halt of activities. The decline reached 18 percent to 4,378.72 at around 10 a.m. before recovering slightly. The market eventually closed at 4,623.42 points, down 711.95 points or 13.34 percent, its lowest level since January 26, 2012. The PSEi reports that P1.14T in stock market value was wiped out today.
March 19, 2020: PSEi dropped to its lowest level since January 26, 2012 as it closed at 4,623.42 dn 711.95 points or 13.34%. #PSEiupdate— Phil. Stock Exchange (@PhStockExchange) March 19, 2020
P1.14T in PH stock mkt value wiped out today.
Volume turnover 1.2B shares valued at P9.4B; foreign buying P4.3bn, foreign selling P6.7B. pic.twitter.com/Q4MRbBoxiP
In compliance with the Philippine government’s directive, the trading floor was closed and activities were done remotely.
Global markets are experiencing sharp declines as fears of the COVID-19 pandemic move investors to pull out.