The beleaguered Colombo stock market will be closed today as well, marking the second consecutive day of non-activity.
The Colombo Stock Exchange was closed yesterday in view of the Government, at close to midnight on Monday, declaring the next three days special holidays.
The CSE said yesterday’s closure was to minimise public interactions in curbing the spread of COVID-19 and to ensure the safety of all market participants. Similar thinking had gone into yesterday’s decision by the CSE in consultation with the Securities and Exchange Commission to keep the market closed today as well.
In a statement the CSE said: In view of the Government declaring a special public holiday for three (3) days effective from 17th March 2020 and requesting the private sector to follow suit, except for maintaining essential services which have been specified, and also considering the other preventive steps that have been taken by the Government, the Colombo Stock Exchange (CSE), in consultation with Securities and Exchange Commission of Sri Lanka, has decided that the CSE will remain closed on Wednesday, 18th March 2020 for Trading.”
Daily FT learns the CSE and SEC will review the situation today to decide whether to reopen the market tomorrow.
Reuters reported yesterday that the Philippine Stock Exchange closed indefinitely yesterday while currency and bond trading was suspended, the first shutdown of markets worldwide in response to the coronavirus, with authorities citing risks to the safety of traders.
(FT)