Stock market records strong growth

Fiji's stock market is demonstrating robust growth this year, fueled by heightened investor engagement and increased trading activity. The South Pacific Stock Exchange (SPX) has reported that the total trading value has reached $77.7 million so far this year. This figure represents a substantial 166% increase compared to the same period in the previous year and marks the highest market turnover recorded since 2015.

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The 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 highlighted the significant surge in trading volume, which has grown by 191% to over 42.6 million shares. Concurrently, the number of trades executed has seen an increase of nearly 65%. Obeyesekere noted that investor participation has markedly strengthened, with 727 new investors entering the market by the end of July. This number is more than triple the count recorded during the corresponding period last year.

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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.

Obeyesekere pointed out that record numbers of new investors were registered in both June and July, indicating a growing public interest in stock market investments. He also mentioned that listed companies have enhanced their returns to shareholders, with dividends totaling $55 million declared by July, a 15% rise from the same period in 2023.

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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.

These positive results, according to Obeyesekere, reflect ongoing efforts to make the stock market more accessible and relevant to ordinary Fijians. The growth has been supported by listed companies, licensed stockbrokers, investment advisers, and the Reserve Bank of Fiji. Further initiatives are currently in progress to strengthen the nation's capital market.

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The results reflect ongoing efforts to make the stock market more accessible and relevant to everyday Fijians.