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.