YSX sees 70pc-plus drop in stock trading

Pyo Wai

Stock trading value at Yangon Stock Exchange (YSX) amounted to over K22 billion last year, down more than 70 per cent compared with 2016, according to figures from the YSX.

From March to December, 2016, the stock trading value reached K70.7 billion.

Stock trading value reached over K2.8 billion in January, 2017, over K3.1 billion in February, over K3.4 billion in March, over K1.2 billion in April, over K1.48 billion in May, K1.5 billion in June, K1.3 billion in July, over K2.2 billion in August, over K1.8 billion in September, over K1 billion in October and over K1.1 billion each in November and December.

Htay Chun, a member of Myanmar Securities Exchange Supervisory Commission said: “The falling stock trading market is expected to bounce back thanks to an inflow of foreign companies, giving the nod to foreigners to hold up to 30 per cent ownership in the stock market, the Myanmar Companies Act and the green-light to four securities companies – MSEC, KBZSC, CBSC and Aya Trust – for online stock trading in 2018.”

Currently, the four listed companies –FMI, MTSH, FTP and MCB –  are doing stock trading with a trading volume of over K77.6 million shares. During this month, TMH Telecom will be listed on the YSX with more than 12.2 million shares.

Translated by Myo Than