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Stock Exchange 2019 Outlook

Stock Exchange 2019 Outlook
The price movements and futher details of trading statistics by each security for 2018 are tabulated above.
January 08
10:24 2019

 

The South Pacific Stock Exchange is determined to continue its momentum this year.

This is with respect to marketing its core business of an access to finance and investment/trading platform.

And also simultneaoulsy strive to position itself as a service-driven and operationally excellent organisation.

“This includes the adoption of better technological platforms to enhance ease and reduce the cost of doing business in the Fijian Stock Market,” the SPSE said in a statement it released on the 2018 Stock Market Review Report.

“The Exchange will endeavour to actively pursue growth avenues and establish collaborative relationships and/or strategic partnerships where applicable to inaugurate a pathway towards the further success of SPSE.

“Our primary agenda will therefore continue to focus on increasing the number of listed companies with an aim to position SPSE as a better barometer of Fiji’s economy.

“This includes promoting the exsiting tax incentives to companies representing different sectors of Fiji’s economy to go public and become a listed company on the SPSE.

“Additionally, the focus on increasing the availability of a dynamic range of investible products apart from just equities via the SPSE platform will continue with an aim to accommodate different investor preferences and offer investors a wide array of choice of different stock market products.

“In conjunction with the pursuance of the above initiatives, SPSE endeavours to further the interests of the investing community encouraging them to consider the stock market with an intention to grow their wealth overtime.

“The deliverables through these initiatives will once again focus on overcoming the liquidity stranglehold, boosting trading volumes and ultimately generating revenue for the SPSE with a long-term focus to become self sustainable.”

International market

The statement also noted that the international market in 2018 witnessed huge strikes in both directions with investor sentiments moving seemingly from jubilation to displeasure.

“With major global stock market indices residing predominantly in the negative territory in the second half of 2018 coupled with the continued swell of the leveraged loan market in the United States (US) and a weak European banking sector, all threatening to push markets sharply lower.

“The displeasure with the global markets continued towards the end of 2018 with the pace of growth not as strong and balanced as earlier projected.

“Overall, market volatility spiked in 2018 as investors were seen to grapple with a number of different factors combining to make 2018 quite unique.

“These factors included a massive corporate tax cut in the US boosting corporate earnings, rising US inflation rate sparking fears that the Federal Reserve will have to tighten monetary policy faster than expected.

“And the trade war between US and China and its potential impact on corporate earnings and the broader global economy.”

Domestically, according to the statistics provided by the Reserve Bank of Fiji (RBF), it states that the Fijian economy is on track to register its ninth consecutive year of economic expansion in 2018.

It was backed by generally positive sectoral performances and has a forecast growth rate of 3.2 per cent of Fiji’s Gross Domestic Product (GDP).

“On the local equities front, Fiji’s Stock Market once again recorded a stellar performance yielding impressive gains in its key market indicators in 2018.

“The overall capitalisation of the market, which is the total dollar value of all the SPSE listed companies, recorded a strong growth on the back of greater investor demand gaining a significant 70.86 per cent concluding the year at an all-time high value of $3.07 billion.

“The strong financial performance recorded by several listed companies coupled with increases in dividend payments.

“Combined with increased demand for listed company shares resulted in strong capital gains for the year which ultimately posted strong gains in the SPSE market indices as well.”

Feedback: maraia.vula@fijisun.com.fj

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