Philippines becomes first country to shut financial markets over COVID-19
The Philippines has become the first country to close its financial markets in response to the COVID-19 pandemic. The Philippine Stock Exchange is closed until further notice, while currency and bond trading has been suspended. The Philippines’ benchmark index has been down 20% in March, the worst since 2008. Half the population remains locked down, with the whole of Luzon placed under community quarantine. All international flights to and from the island will stop from March 20. The Philippines has reported 140 COVID-19 cases and a dozen deaths.
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