‘Mario’ shuts down PH financial markets

By: Doris C. Dumlao - 10 years ago

MANILA, Philippines—Financial markets in the Philippines were shut down on Friday due to inclement weather brought by Tropical Storm Mario.

Philippine Stock Exchange. AFP FILE PHOTO

After the government suspended work in all offices in Metro Manila Friday morning, trading at the stock, bond, money and foreign exchange markets were likewise halted due to lack of clearing and settlement operations.

“Please be advised that there will be no trading at the Philippine Stock Exchange and no clearing and settlement at the Securities Clearing Corp. of the Philippines today, Sept. 19, due to the suspension of clearing and settlement operations in the Philippine banking system,” the PSE said in an advisory.

It was the second time this year that the financial markets were shut down by bad weather. The last time a similar suspension happened was on July 16 due to “Glenda.”