Philippines' stock market put on trading halt

Trading on the Philippine Stock Exchange (PSE) was put on hold on Wednesday, the local bourse operator announced.

“Please be advised that trading in the market is currently halted. Kindly stand by for further announcements,” the PSE said in an advisory posted on its website and social media accounts.

The trading halt was announced at around 10 a.m. It resumed nearly two hours later at 11:56 a.m.

The benchmark PSE index (PSEi) opened at 6,539.81, down 14.23 points or 0.22%. 

In an update, the PSE said the local bourse encountered a technical issue that prompted it to halt trading at 9:32 a.m.

Trading resumed at 11:56 a.m., while afternoon trading (1 p.m. to 3 p.m.) proceeded as scheduled.

“PSE and its third-party front-end system provider continue to investigate the matter to identify the root cause,” the local bourse operator said.

On the first trading day of 2024, the PSEi gained 104.00 points or 1.61% to 6,554.04 at the closing bell, while the broader All Shares index grew by 41.38 points or 1.21% to 3,465.97. —Ted Cordero/KBK/VDV/VBL, GMA Integrated News