The Philippne Stock Exchange (PSE) announced earlier today the postponement of trading. The decision to postpone trading came after the state's Central Bank also halted clearing and settlement because of the moonsoon rains and floods. This is the second day that PSE decided to cancel its activities.
Pagasa, the country's weather agency, earlied issued a red alert for Metro Manila and surrounding areas like Laguna and Cavite. Red warning indicates that "severe flooding is expected".
Trading is expected to continue on August 22, Thursday, as August 21, Ninoy Aquino Day, is an observed holiday. Ninoy Aquino was a slain senator who was a catalyst for the 1986 EDSA Revolution. He is the current President's father as well.
The main index is yet to rebound from last Friday's trading, losing 54.76 points and closing at 6,525.95. Broader all-share index slid a fraction to 0.60%, closing at 3,974.93.
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