A policeman from the Philippine National Police (PNP) uses a thermal scanner to check the temperature of people inside a vehicle at a checkpoint in Quezon City, the Philippines on March 16, 2020. (Xinhua/Rouelle Umali)
The Philippine Stock Exchange decided to shut down the stock market to "ensure the safety of employees and traders in light of the escalating coronavirus disease."
MANILA, March 17 (Xinhua) -- The Philippine Stock Exchange (PSE) shut down trading on Tuesday after the entire Luzon island, including Metro Manila, was placed under a 30-day "enhanced community quarantine" to slow down the spread of COVID-19.
PSE President Ramon Monzon said PSE decided to shut down the stock market to "ensure the safety of employees and traders in light of the escalating coronavirus disease."
According to a PSE memorandum, no trading, clearing and settlement at the Securities Clearing Corporation of the Philippines until further notice.
The country now has 142 cases, including 12 deaths. The Department of Health said three patients have so far survived the disease.
The local stock barometer closed on Friday at 5,793.34, up by 57.67 points or 1.005 percent.
The Philippines on Sunday started implementing a 30-day lockdown in Metro Manila to limit the movement of people in the densely populated region.
On Monday night, Philippine President Rodrigo Duterte placed the entire main Luzon island in the Philippines under "enhanced community quarantine" in a drastic bid to curb the spread of the virus.
"The idea here is to keep everybody on home quarantine," Cabinet Secretary Karlo Nograles said after Duterte's announcement, adding that public transportation is suspended.
Travel restrictions are being strictly imposed, preventing people, especially those living outside of Metro Manila, from commuting to their offices in the capital. Only a few essential establishments are open, including supermarkets and pharmacies during the 30-day lockdown. ■
