Philippines shuts trading floor as Super Typhoon Karding makes landfall

The Philippine Stock Exchange Inc. (PSE) over the weekend announced the suspension of trading on Monday, September 26, as the country faces Super Typhoon Karding (international name: Noru).

In an advisory released Sunday evening, PSE president and chief executive officer Ramon Monzon said there will be no trading at the local bourse, and no clearing and settlement in the Securities Clearing Corporation of the Philippines.

The latest weather bulletin released by the state weather bureau at 8 p.m. on Sunday indicated that heavy to intense rains are expected in Metro Manila due to Karding.

The local stock barometer closed last Friday, September 23, at 6,259.54, down by 42.17 points or 0.67%. The broader All Shares index lost 14.95 points or 0.45% to end the previous week at 3,341.29.

President Ferdinand “Bongbong” Marcos Jr. earlier on Sunday said he approved the suspension of classes and work in several areas across Luzon, in anticipation of the impact of Karding.—LDF, GMA News