PSEi flat on ‘wait-and-see’ over new NCR curfew hours

Share prices on the Philippine Stock Exchange closed flat on Friday, albeit in the green, as investors stayed on the sidelines following the approval of new curfew hours in Metro Manila.

The benchmark PSEi gained 9.37 points or 0.14% to 6,728.55 at the closing bell. The broader All Shares increased by 9.15 points or 0.23% to 4,059.58.

“Local shares closed flat on thin volumes as investors went on a wait and see mode as Metro Manila mayors have agreed to impose unified curfew in their respective jurisdiction for two weeks,” Regina Capital Development head of sales Luis Limlingan said.

The Metro Manila Council has agreed to implement uniform curfew hours in the National Capital Region starting Monday, March 15.

Metro Manila Development Authority chairman Benhur Abalos Jr. said the curfew hours would be from 10 p.m. to 5 a.m. and would last for two weeks.

Abalos said that the curfew would be lifted once the number of COVID-19 cases decreased during the 14 days.

Foreign funds bought P1.571 billion shares and sold P2.174 billion for a net selling position of P602.86 million.

More than 3.405 billion shares valued at P6.87 billion, changed hands. Advancers led decliners, 108 to 99, and 60 issues were unchanged.—AOL, GMA News