Shutdown comes after some bourses around the world closed trading floors. FMTNews Covid19
MANILA: The Philippine Stock Exchange closed indefinitely on Tuesday while currency and bond trading were suspended, the first market shutdowns worldwide in response to the coronavirus, with authorities citing risks to the safety of traders.
“Given the unprecedented speed of the slump in equity prices, it has been suggested that stock exchanges might be closed soon if things don’t turn around,” research house Capital Economics said in a note on Tuesday. National Treasurer Rosalia de Leon cited the lockdown as the reason for the suspension of fixed income trade.In Malaysia, where a similar lockdown comes into force on March 18, the securities regulator said all capital markets will operate as usual.
That comes amid a swathe of short-selling restrictions in markets from South Korea to Italy and Spain.The consultancy expects – as in the Philippines – health reasons to be invoked should other bourses shut.
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