[File Photo]
Fiji’s stock market is continuing to record strong growth this year, driven by increased investor participation and higher trading activity.
The South Pacific Stock Exchange says trading value has reached 77.7 million dollars so far this year, a 166 percent increase compared to the same period last year and the highest market turnover recorded since 2015.
SPX Chief Executive Sheraj Obeyesekere says that the trading volume has also surged by 191 percent to more than 42.6 million shares, while the number of trades has increased by nearly 65 percent.
He adds that the Exchange says investor participation has strengthened, with 727 new investors joining the market by the end of July, more than triple the number recorded during the same period last year.
The CEO notes its record numbers of new investors were registered in both June and July, reflecting growing public interest in stock market investment.
He states listed companies have also increased returns to shareholders, with dividends totalling 55 million dollars declared by July, up 15 percent from the same period last year.
Obeyesekere says the results reflect ongoing efforts to make the stock market more accessible and relevant to everyday Fijians.
He says the growth has been supported by listed companies, licensed stockbrokers, investment advisers and the Reserve Bank of Fiji, with further market development initiatives now underway to strengthen the country’s capital market.
