The Philippine Stock Exchange (PSE) is considering to return to full-day trading now that the Omicron-fuelled COVI-19 surge is seen to have peaked in Metro Manila and projected daily cases are seen to drop even further next month.
In an announcement that was later removed, the PSE said that it was reverting to full day-5-hour trading on Feb. 2, 2022 and provided a tentative schedule. Pre-opening will still be at 9:00 a.m. and market opening at 9:30 a.m.
There will be a market recess at 12:00 p.m. and trading will resume at 1:00 p.m. and close at 3:00 p.m. after a run-off period starting at 2:50 p.m. However, the PSE later said it will “provide further updates on the February trading schedule.” Market sources said this means the status quo will remain until further updates on trading schedule is announced.
The PSE had shortened trading hours starting Friday, Jan. 14, 2022, “in view of the surge in COVID-19 cases caused by the Omicron variant.” In a circular, PSE President Ramon S. Monzon said the bourse will have shortened trading hours from January 14 to 31, 2022.
Pre-opening will be at 9:00 a.m. while pre-open with no cancellation will be begin at 9:15 a.m. Market will open at 9:30 a.m. and pre-close will start at 12:45 p.m., pre-close no cancel at 12:48 p.m., and Run-off or Trading at Last at 12:50 p.m., while market will close at 1:00 p.m.
“We will await further updates from the IATF-DOH on the status of Covid cases and quarantine situation in Metro Manila a few days before January 31, 2022 and make the appropriate announcement on PSE’s trading hours after said date,” Monzon said.
Just last Dec. 6, the PSE had returned to its pre-pandemic full-day 5-hour trading schedule which ended at 3:00 p.m. after COVID cases had dropped from the surge caused by the Delta variant.
It had also reopened its trading floor last Dec. 1 to allow trading participants with trading booths to resume trading operations on site.