Year end trading surprises South Pacific Stock Exchange
Some unexpected good news as the South Pacific Stock Exchange closes out 2016.
— By Manasa Kalouniviti, Fiji Times
The South Pacific Stock Exchange, in issuing the stock trading summary for December 2016 last Friday said: "We were pleasantly surprised by the upbeat trading activity and capital gains recorded during the month."
This was after SPSE had said earlier the December period was generally reflected by stronger consumption spending with limited investment preferences and was typically a slow trading month.
Contrary to expectations for December 2016, a total of 70,840 shares were traded in 53 transactions totalling $338,485 in value. (November, 2016: 340,909 shares traded at $595,436 over 68 transactions).
And nine out of the 18 listed companies recorded trading activities in December with five listed shares seeing positive price returns yielding capital gains for the investors...
Some highlights for the end of 2016 included;
At the conclusion of the year, a total of 283 first-time shareholders are now participating in the Fijian stock market and 192 investors or 67.84 per cent of the new investors invested in Vision Investments Ltd (VIL) shares.
Also as expected and reported earlier the overall market value concluded at an all-time high of $1,318,795,202 after recording an increase of 0.47 per cent ($6,145,416) over the month of December.
The increase in the market value was after capital gains were recorded during the month in the following shares; Amalgamated Telecom Holdings (ATH) +0.79 per cent, Pleass Global (PBP) +2.07 per cent, VB Holdings +7.57 per cent, Fijian Holdings (FHL) +0.25 per cent and BCN +0.65 per cent.
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