SPX’S MARCH MARKET HIGHLIGHTS
As the health crisis from the novel coronavirus (COVID-19) moved beyond China’s borders, the strain of the global pandemic sent ripples through the international stock markets, businesses and the world economy.
Undoubtedly, Fiji, similar to global economies is now in an unprecedented situation headed for an economic decline. As an investor, there are reasons to be concerned, pay attention and avoid any hasty investment decisions.
Commendably, the Fijian Government has intervened in a timely manner through the announcement of the COVID-19 Response Budget which is inclusive of various decisive and innovative policy decisions mounted to limit the economic damage from this global pandemic.The Fijian stock market has limited direct correlation with the performance of global stock markets, however; investor sentiments being impacted through COVID-19 can possibly lead to a flow on effect on the domestic stock market.
The South Pacific Stock Market (SPX) in its March report highlighted:
■Fijia■ Holdings Limited (FHL) was the most active stock in terms of number of transactions and value traded while Paradise
Beverages (Fiji) Limited (PBF) was most active in terms of volume traded.
■FHL occupied 32.82 per cent of the overall trades with 31.70 per cent of the aggregate volume traded whereas KFL occupied 49.47 per cent of the aggregate value traded for the month. ■Overa●●, in March, a total of 195 trades were executed with total volume of 278,850 shares and accumulating $1,240,175 in value traded.
■ Furthermore, total of 13 listed securities recorded trading activities as well as share price movements. ■24 new/first time investors.