Stock market to remain open

PAPUA New Guinea’s national stock exchange (PNGX) is planning to keep the market open, orderly and fair in the national interest.
Chairman David Lawrence has acknowledged and supported statements made by Prime Minister James Marape setting out efforts to control the spread of Covid-19 within PNG. Lawrence, in a statement, said PNGX for some time had been in communication with listed companies, brokers, share registries, technology providers and the Department of Treasury in preparation for any impact arising from Covid-19 and global markets turmoil.
PNGX has also liaised with the Australian Securities and Investments Commission and ASX Ltd in relation to those companies which are dual listed on PNGX and ASX.
PNGX has in place, and is continuing to put in place, appropriate arrangements to ensure PNGX market remains open through what could be difficult and challenging times.
“The PNGX market has been insulated to date from the effects of Covid-19 and global markets turmoil,” Lawrence said.
“It is important in times like these that confidence is retained in the country’s social and financial institutions. For this reason, we are working to keep the market open, orderly and fair in the national interest.
“We will continue to listen to the advice of the Government to ensure the health and safety of our staff and the ongoing confidence of the market.”