PH shares expected to decline as COVID cases surge
Philippine shares are expected to decline this week, as several businesses are forced to halt operations due to the rising number of COVID-19 cases.
The Philippine Stock Exchange index (PSEi) finished at 6,436.10 on Friday, declining by 2.93%.
UPCC Securities Corp. Equities Trader Aristotle D. Reyes, Jr. said, “For the past [few] days, we see the [COVID-19] cases going up and [hospitals getting] filled, so investors are getting cautious about the market again.”
Metro Manila and the neighboring provinces of Cavite, Bulacan, Rizal, and Laguna will be under the General Community Quarantine (GCQ) from March 22 until April 4.
