Philippine stock market loses P1.16 trillion

The Philippine Stock Exchange lost P1.16 trillion in market value on March 19, as the government works to contain the novel coronavirus.

The PSEi closed down by 13.3% at 4,623, its lowest level since January 2012.

The index fell nearly 25% shortly after trading resumed following a two-day suspension, marking the largest drop on record.

Year-to-date, the PSEi has declined by almost 41%. Only eight companies gained value while 211 lost it during the shortened trading day.

ATN Holdings was the biggest loser with a 49% plunge to P0.33 per share, while I-Remit was the only gainer with a 28% increase.

The most actively traded stocks were SM Investments (down 9.3%), BDO Unibank (down 22.7%), SM Prime (down 5.3%), Ayala Land (down 20.3%), and Ayala Corporation (down 22.8%).