Philippine stock market suspends trade indefinitely as coronavirus spreads

SINGAPORE - The Philippine Stock Exchange suspended trade indefinitely on Tuesday , citing the safety of traders and staff in the face of the coronavirus pandemic.

But the shutdown has caught the eye of analysts who raised the prospect of other exchanges following suit. AdMacro research head Patrick Perret-Green had also raised the prospect in a note issued over the weekend, before the Philippines' move. Capital, however, rate it as an ineffective move to salve investor sentiment and expect - as in the Philippines - health reasons to be invoked should other bourses shut.

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