Business

PSE reduces lower static threshold of share prices

Sunnexdesk

THE Philippine Stock Exchange (PSE) has secured the approval ofthe Securities and Exchange Commission to reduce the lower static threshold of individual stock prices from 50 percent to 30 percent from its previous closing price.

“We are looking at measures to address the present volatility in the stock market due to uncertainties from Covid-19. One of the measures we decided to adopt is to tighten the trading band for securities,” PSE president and chief executive officer Ramon Monzon said.

“We benchmarked the adjusted lower static threshold level with what other exchanges in the region currently implement, which is between 10 and 30 percent,” Monzon explained.

The adjusted lower static threshold took effect on Tuesday, March 24, 2020.

“We already configured our trading system to recognize a 30 percent decline in share price as the floor price of a security,” Monzon added.

The upper static threshold of securities will remain at 50 percent. (PR)

UNDER THE SUN. A large umbrella shields students from the heat as they go home riding a bike with sidecar from Buenlag Central School in Calasiao, Pangasinan on Thursday (April 25, 2024). Pangasinan has been posting over 40 degrees Celsius heat index since a few weeks ago, and local government officials have implemented various measures to lessen the impact of the high heat index to the students.

PH sees 77 heat-related illness cases amid rising temperatures

Comelec mulls further limiting substitution due to withdrawal 

PRC to licensure examinees: Only 1 non-programmable calculator per examinee allowed

Magnitude 6 quake rocks Dulag, Leyte

CBCP issues Oratio Imperata to plea for rain