The country’s stock market dropped 2.4% to an index level of 5,465, as the pandemic crisis continues to haunt the global economy.Globally, 2.7 million people worldwide were infected with the virus, while the Philippines’ number of confirmed cases has reached 7,192.in the National Capital Region and other parts of Luzon until May 15, most of the businesses will remain closed.that the country is expected to have an estimated loss of P767.19 billion, or 3.
As the pandemic led to temporary closures of some businesses, Monzon said that listed companies are already aware that they will miss their target earnings. “The investors know that the listed companies would not be hitting the earnings target this year,” he said.PSE also said that a solution to stop the coronavirus pandemic could somehow trigger the market.
“Something could happen if a vaccine is found, a treatment is found, I think this would trigger an instant rally in the market, even though it will take time to recover and go back to the peak,” said Monzon.
It will