MANILA, Philippines–Philippine financial markets were shut down by regulators on Monday after hours of heavy rains overnight flooded many areas of the metropolis, similar to a situation that happened during this rainy season one year ago.
The Philippine Stock Exchange announced early morning on Monday that there would be no trading at its bourse as clearing and settlement at the Securities Clearing Corp. of the Philippines were likewise suspended.
As operations at government offices were suspended, clearing and settlement operations in the Philippine banking system likewise ground to a halt.
In August 7 last year, an inclement weather that flooded the metropolis halted Philippine financial markets and banking operations.
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