More than $740,000 worth of shares were traded on the South Pacific Stock Exchange (SPX) e-trading platform last December alone, a 14 per cent drop from November, according to the stock market’s trading report for the month released last week.
“For the period under review, the SPX e-trading platform recorded a total of 262 transactions valued at $742,992 with 471,162 shares,” SPX noted.
“Overall, 11 out of 19 listed securities actively traded over the month, of which six stocks noted share price movements.”
Despite the 14 per cent drop in value of shares traded, market capitalisation on a monthly basis increased from $3.26billion in November to $3.34b in December, driven by share price increases in Amalgamated Holdings Ltd (ATH), FijiCare Insurance Ltd (FIL) and Port Denarau Marina (PDM).
Market heavyweight ATH alone is close to 30 per cent of total market capitalization and the price movements of the three companies pushed up the SPX Total Return Index (STRI) by 2.83 per cent to settle at 8,611.46.
SPX also reported the entry of four new or first time investors to the in December.
“On a year-to-date basis, a total of 161 new investors were recorded, with majority of the new investors acquiring shares in Fijian Holdings Ltd and Kontiki Fund Ltd,” it stated.
In November, a total of 550,187 shares with a total value of $1.07million changed hands on SPX.
