PSE Halts Trading Amid Typhoon Carina

The Philippine Stock Exchange Inc. (PSE) announced the suspension of trading activities on Wednesday due to the impacts of Typhoon Carina.

“Please be informed that there will be no trading at the Philippine Stock Exchange today, July 24, 2024,” the PSE stated in an advisory.

On Tuesday, the benchmark PSEi closed at 6,753.12, marking an increase of 41.07 points or 0.61%. The broader All Shares index also closed higher, gaining 38.50 points or 1.07% to reach 3,638.48.

The PSE’s decision to halt trading follows the suspension of government work in Metro Manila due to severe rains and flooding caused by Typhoon Carina.

The Office of the Executive Secretary announced the suspension of government work and classes at all levels in the National Capital Region for Wednesday, attributing the decision to continuous rain from the Southwest Monsoon, enhanced by Typhoon Carina. Private companies and offices have the discretion to suspend work based on their judgment.

According to PAGASA’s 5 a.m. Typhoon Bulletin, Typhoon Carina further intensified early Wednesday morning as it continued to move towards Taiwan.