Duterte locks down Luzon

PRESIDENT Rodrigo R. Duterte on Monday ordered the lockdown of the entire Luzon island to contain a rapid novel coronavirus outbreak, suspending work and public transportation and regulating food and health services, according to his spokesman.

The President ordered that Luzon be placed under “enhanced community quarantine” to stop the outbreak that has killed at least 12 people and sickened 128 more in the Philippines, presidential spokesman Salvador S. Panelo told reporters in a Viber message. READ MORE

Banks see lower loans, more bad debt on virus

BANKS HAVE NOW activated their business continuity plans (BCP) and are allowing flexible work arrangements as they brace for the impact of the coronavirus disease 2019 (COVID-19).

Some lenders also assessed the impact of the outbreak on their performance, including lower loan bookings and the rise of bad loans.

“A reduction in new loan bookings by 20% compared to the previous year is possible. Nonperforming loans (NPL) may double by December 2020 compared to the previous year’s,” AUB said in a filing on Monday. READ MORE

TECHNICAL ANALYSIS

The PSEi could be at the end of downside; Golden Ratio 61.8 might be done when the market opens. President complete shutdown of LUZON gives a breather for the PSE.
Global Market takes severe bashing & finally it is taking a breather this morning; the severe issue is not now but future earnings of the companies looks bleak as small business gets into trouble.

KEY TAKEAWAYS

  • See the stock market as a place to invest right
  • Learn to pick good companies and invest on them
  • There are fears like right now: CLICK & READ the below news
  • We believe the media have hype the situation so serious when sickness like tuberculosis and other are rampant.
  • We feel that is never been the best time in the history to invest in the market – especially so in PHILIPPINES which our country and our nation.

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