MANILA -- Finance Secretary Carlos Dominguez said Friday he directed state-run pension funds to support the stock market by "at least doubling" their purchase of equities.

The Philippine Stock Exchange Index had fallen intra-day by 10 percent twice in as many days due to investor unease over the 2019 coronavirus disease outbreak, which prompted a 1-month long quarantine of Metro Manila.

"I have instructed GSIS and SSS to take advantage of the low stock prices as well as to support the stock market by at least doubling their daily average purchase volumes of last year," Dominguez said in a text message to reporters.

The Government Service Insurance System provides pension and benefits to state workers while the Social Security System is for private sector employees.

The Securities and Exchange Commission on also on Friday directed companies to disclose the potential impact of the pandemic on their operations.