November 24, 2021 | 12:00am
MANILA, Philippines — The Philippine Stock Exchange (PSE) will revert to pre-pandemic full-day trading hours effective Dec. 6.
At present, the PSE’s trading hours are from 9:30 a.m. to 1 p.m.
In a memorandum issued late Monday, the PSE said the market would open at 9:30 a.m until 12 noon, pause for a market recess and then resume at 1 p.m. to close at 3 p.m.
The updated schedule will be in effect until further notice, said PSE president and CEO Ramon Monzon.
Last year, the PSE initially shortened trading hours up to 1 p.m. after the government imposed an enhanced community quarantine.
On March 17, 2020, at the height of the COVID-19-related lockdowns, the PSE implemented a total shutdown, consistent with the enhanced community quarantine that the government mplemented.
The PSE suspended operations at the time as the government did not include stocks trading in the list of essential services.
It reopened two days after when the interagency task force on COVID-19 included the capital market in the list of essential services.
Traders criticized the PSE’s controversial move to shut down the market back then, saying that it sent a wrong signal to investors.
Around that time, the Securities and Exchange Commission also closed its main office in Pasay City and extension offices and satellite offices located within Luzon.
The market has been regaining its pre-pandemic momentum with a number of companies raising capital from the stock market to beef up their war chest and fund their post-pandemic growth.