Typhoon Ulysses shuts Philippine financial markets

Trading in both the Philippine Stock Exchange (PSE) and the Bankers Association of the Philippines (BAP) have been suspended on Thursday, November 12, due to the inclement weather conditions brought about by Typhoon Ulysses (international name: Vamco).

In an advisory, the PSE said there will be no clearing and settlement in the Securities Clearing Corp. of the Philippines.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) ordered the suspension of the trading of the Philippine peso and the US dollar.

Also suspended are cash deposits and withdrawals at the security plant complex; PhilPass operations; and monetary operations.

As of 8:00 a.m. on Thursday, Metro Manila and eight other areas remained under Tropical Cyclone Wind Signal No. 3, even as Ulysses weakened and gearing to exit the Luzon landmass.

Some 3.8 million customers of the Manila Electric Co. (Meralco) currently have no electricity, which the company said could last for an indefinite number of days.—AOL, GMA News