Philippines to Reimpose Lockdown in Capital; Stocks Plunge
- Metro Manila to be under strict quarantine Aug. 6 to Aug. 20
- Philippine stocks fell 3.5%, world’s steepest loss Friday
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The Philippines will place its capital region under a strict lockdown from Aug. 6 to Aug. 20 and implement additional movement restrictions in the interim to stem the spread of the coronavirus’ delta variant. Stocks fell the most in six months.
The Manila capital region, which accounts for about a third of the economy, will shift to the strictest restriction called enhanced community quarantine to avoid overwhelming hospitals, presidential spokesman Harry Roque said on Friday. Most businesses will be shut, and only essential shops like supermarkets and pharmacies can fully operate while restaurants will only be open for take out and deliveries.