Philippines Shuts Stocks, FX Markets Due to Typhoon Gaemi (1)

The Philippines suspended trading in its stocks and currency markets on Wednesday after the government canceled work and schools in the capital due to Typhoon Gaemi.

The Philippine Stock Exchange said there will be no trading in its equity market, according to its post on X. The central bank separately said currency trading and its monetary operations will be closed.

Motorists ride through a flooded street in Manila on July 23.

Photographer: Ted Aljibe/AFP/Getty Images

The nation’s weather agency warned of heavy rainfall in metropolitan Manila and other parts of the main Luzon island on Wednesday that may cause landslides as Gaemi heads towards Taiwan. The typhoon, locally named Carina, further intensified with ...