PSE index slumps, triggering temporary halt, ends lower

March 19, 2020

The main Philippine share index slumped on Thursday, after being closed for two days due to the enhanced quarantine imposed by government in Luzon.

Despite a 50-basis point rate cut by the Monetary Board, the peso finished at P51.10 against the US dollar from P51.05 on Monday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $597.08 million from $712.25 million on Monday.

The Philippine Stock Exchange (PSE) index fell 12.4 percent triggering a trading halt for 15 minutes. It reduced its losses to end at 4,623.42 points, down 711.95.


The PSE index closed at its lowest since January 26, 2012. In a Twitter post, the PSE said P1.16 trillion in Philippine stock market value was ''wiped out today.''

In the broader market, there were 211 losers, eight losers and 21 unchanged.


Volume reached 1.25  billion worth P9.4  billion from March 16 data of 618.19 million shares valued at P6.44 billion.


Most traded shares were led by SM Investment Corp., down P68 to P667; BDO, down P25 to P85; Ayala Corp., down P116 to P394 and SM Prime, down P1.5o to P27. DMS