The Philippine Stock Exchange index (PSEi) presented a slight recovery during yesterday’s trading session.
The share prices of publicly listed companies’ stocks made modest rebounds.
This development comes as capitalists carry on with their close monitoring of the repercussions of the coronavirus disease.
The PSEi received little gains, rising merely by 0.09 percent. This percentage translated to 5.77 points.
Moreover, the local stock exchange benchmark closed at 6,318.38.
Meanwhile, the wider All Shares yardstick demonstrated a picture different from that of the PSEi.
Yesterday’s trading for the broader gauge concluded in the red. Furthermore, it demonstrated an utter decline amounting to 26.70 points.
These numbers indicated a nosedive of 0.70 percent, ending at 3,788.52, according to the report by Philippine daily newspaper The Philippine Star.
Besides, during yesterday’s trading session, all the industries presented a downtrend movement.
The financials measurement was an exception to this happening. Also, market breadth tread the negative territory yesterday.
Thirty-six issues demonstrated zero modification. Meanwhile, 74 was the number of gainers, while 136 were the losers.
As for the total value turnover, it attained the amount of P7.3 billion. In light of the latest trading indicators from the PSEi, Luis Limlingan offered his insights.
He shared that the Philippine shares traded flatly.
The Regina Capital Development Corporation’s (RCDC) managing director explained that this event happened following Donald Trump’s announcement.
Limlingan mentioned that the president of the United States had proclaimed an economic stimulus in light of the coronavirus outbreak.
Also, he shared that Trump would reportedly seek a quite considerable relief and a payroll tax slash for the sectors that the disease adversely impacted.
The RCDC executive affirmed that the local shares’ flat trading pattern takes place after Italy’s imposition of a nationwide lock-down as well.
Because of the coronavirus pandemic and outbreak locally, President Rodrigo Duterte had already declared a state of public health emergency.
Moreover, Francisco T. Duque III has given preventive steps to the public. The secretary of the Department of Health (DOH) advised the people to practice proper social distancing.
Besides, Duque said that they should observe correct hand hygiene and cough etiquette.
In this manner, the public would be able to preclude the coronavirus ailment from disseminating, the DOH secretary remarked.
Duque said in his statement yesterday that he highly recommends the people to avoid going to public locations.
During this critical period, the people should also evade taking part in mass gatherings, the government’s health official relayed.
He implored the people to cooperate fully with the Philippine government in the contact-tracing and investigative procedures that it is presently undertaking.