The Philippine Stock Exchange declared a trading holiday yesterday as Typhoon “Maring” shut down local financial markets and flooded many parts of the metropolis.
“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. 12, due to the suspension of clearing and settlement operations in the Philippine banking system,” the PSE said in an advisory yesterday.
The metropolis has experienced heavy rains since Monday night, resulting in flooding in some areas. As such, the government suspended government offices in Metro Manila, Region 3 and the Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon).
BDO Unibank, meantime, shortened its banking hours due to inclement weather. Regular branches were closed at 3 p.m., while branches in shopping malls operated until 4 p.m. On usual days, BDO’s banking hours last for as late as 6 p.m. for branches outside the malls and late as 7 p.m. for mall-based sites.