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YSX sees no significant drop in trade amidst the falling share prices

Tuesday, 19 May 2020 09:05 font size decrease font size decrease font size increase font size increase font size

Yangon Stock Exchange (YSX) experienced no significant drop in trade despite the fall in the prices of securities during the COVID-19 prevention and containment period, according to YSX. 

“As people are selling their shares, the price of securities fall, but the value of trade remains almost the same. On average, daily trade value during February this year was about Ks-60 million. In March, the figure even reached nearly Ks-100 million, showing a rise in the sales, and a drop in prices,” said U Thet Tun Oo, senior executive manager of Yangon Stock Exchange. After hovering at   Ks-100  million  in March,  the  average  daily  sale amount slightly fell in April because of  COVID-19  and  the  Thingyan holidays. But, the trade value never went down sharply.

“Because  of  the  public  fear, initially, there is a minor drop, but the trade goes on as usual,” said U Thet Tun.

COVID-19 has caused impact on the Yangon Stock Exchange since its outbreak in the certain world countries. In the early 2020, there was a 10 percent slip in the securities prices.

Most of the shareholders were selling their securities out of fear. In fact, they were extremely worried. But, there are opportunists buying the shares at low price during the panic selling. So, YSX requested
the shareholders to stay away from flooding the market with securities.  

Kay Kay

 

Read 12 times Last modified on Tuesday, 19 May 2020 09:06