The Philippine Stock Exchange (PSE) is reverting its trading hours to the shortened session starting Friday, January 14, just a month after the regular tradings hours were reinstated.
This is after the surge of new coronavirus disease 2019 (COVID-19) cases that put the National Capital Region on Alert Level 3.
As such, trading in the PSE between January 14 and January 31 will close at 1 p.m., instead of the regular 3 p.m. closing.
The market will still follow its regular opening bell at 9:30 a.m.
“We will await further updates from the IATF-DOH (Interagency Task Force on the Management of Emerging Infectious Diseases-Department of Health) on the status of COVID cases and quarantine situation in Metro Manila a few days before Jan. 31, 2022 and make the appropriate announcement on PSE’s trading hours after said date,” the PSE said.
The PSE first adjusted its trading hours in 2020 at the height of the first enhanced community quarantine (ECQ).
It was lifted and revered to regular hours on Dec. 6, 2021.
At the bourse, share prices ended higher Wednesday on bargain- hunting.
The PSE index was up 129.44 points to 7,215.13, a 1.83 percent hike.
The broader all shares index was up 54.45 points to 3,829.91, a 1.44 percent hike.
Gainers edged losers 133 to 49 with 50 stocks unchanged. Trading turnover reached P5.94 billion.
The peso closed at 51.19 to the dollar, down from 51.14 on Tuesday.
The currency opened at 51 to the dollar and hit a high of 50.94 and a low of 51.26. Trading turnover reached $1.11 billion.
Defying the trend, the Philippine peso slid 0.4 percent as the net oil importing country’s currency was hurt by crude prices surging 4 percent on hopes the spread of the Omicron variant would not derail a global demand recovery.
The peso is under pressure from the nation’s widening trade deficit, which was mostly due to a very high fuel import bill.
SB Equities Inc. said investors’ risk appetite was boosted by the same reassuring comments by Fed chair Powell’s over US inflation.
“BSP governor Benjamin Diokno stating that key rates were unlikely to rise in the first half of the year, and reports that Metro Manila’s mayors favored keeping current quarantine curbs also helped to encourage buying,” it said.
Most actively traded AC Energy Corp. was down P0.15 to P9. Metropolitan Bank and Trust Co. was up P1.90 to P57.70 Solar Power Nueva Ecija Corp. was up P0.09 to P1.42. Ayala Land Inc. was up P1.15 to P35.60. BDO Unibank Inc. was up P4.30 to P126.80.
International Container Terminal Services Inc. was up P1.60 to P195.70. SM Investments Corp. was up P20 to P950. SM Prime Holdings Inc. was up P1.30 to P34.85. Dito CME Holdings Inc. was up P0.45 to P5.37. Ayala Corp. was up P27 to P860.
