PSE suspends trading over tropical storm Mario
MANILA, Philippines – The Philippine Stock Exchange (PSE) suspended trading operations on Friday, September 19, after Malacañang announced the suspension of work in government offices due to Tropical Storm Mario (Fung-Wong).
"Please be advised that there will be no trading at the Philippine Stock Exchange and no clearing and settlement at the Securities Clearing Corporation of the Philippines today, September 19, due to the suspension of clearing and settlement operations in the Philippine banking system," the PSE said in a statement.
PSE index added 55.45 points or 0.77% to close at 7,287.29 on September 18.
Prior to the PSE announcement, the Bangko Sentral ng Pilipinas (BSP) issued a statement that it was suspending clearing operations on Friday, following the Palace announcement suspending government offices in various areas affected by the typhoon, including Metro Manila.
"Under BSP guidelines, clearing operations are suspended if work suspension is announced before 9 am," the BSP said.
The Palace announcement was made before 8 am.
The tropical storm packed maximum sustained winds of 85 kilometers per hour while bringing heavy rainfall in several areas in Luzon, within Metro Manila, Rizal, and Bulacan. – Rappler.com
Follow Rappler's live blog for more information, photos, and videos from areas affected by Typhoon #MarioPH (Fung-Wong).