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PSEi ends flat amid concerns on Wuhan virus
The Philippine Stock Exchange index (PSEi) closed flat on Friday, influenced by global concerns over China's novel coronavirus outbreak.
The PSEi experienced a slight increase of 7.06 points or 0.09%, ending at 7,623.41, while the all shares index saw a 0.43% gain.
Head of Sales at Regina Capital Development Corp., Luis A. Limlingan, noted that the market's performance reflected anxieties about the severity of the virus.
The World Health Organization (WHO) declared the outbreak an emergency within China but not yet a global health emergency, despite over 800 reported cases worldwide.
The Philippine Department of Health confirmed a case of a Chinese boy who tested positive for the virus after traveling to Cebu City.
In response to the outbreak, the Civil Aeronautics Board has suspended most flights between Wuhan and the Philippines, with exceptions for charter flights repatriating Chinese tourists.
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The Philippine peso depreciated against the US dollar on Monday, closing at P50.835:$1, a loss of 2.5 centavos from Friday's close.
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