MT News
Stocks on the YSX were traded at higher prices and the number of shares traded increased from just a few thousands during previous months to tens of thousands as of September, according to daily market data released by the YSX.
On 5 September, the price of the First Myanmar Investment (FMI) reached its highest this year to Ks- 8,800 and 8,541 shares valued at over Ks- 72.6 million were traded. On 2 September, the share price of the FMI rose by Ks- 1,000 from Ks-7,800 to Ks-8,800. Compared with its record low of Ks 6,900 in August, it bounced back by Ks- 1,900.
Meanwhile, the share price of Myanmar Thilawa SEZ Holdings (MTSH) rose by Ks- 500 to Ks- 3,500, with 20,468 shares worth Ks- 67.4 million traded.
On the other hand, only 56 shares of the Myanmar Citizens Bank (MCB) were traded today at Ks 7,500 per share although its price surged by only Ks- 400.
The price of the First Private Bank (FPB) shares also increased by Ks- 1,000 to Ks- 19,500 but a total of 1,170 its shares were traded today.
Similarly, altogether 1043 shares of the TMH Telecom Public Company., Ltd were traded at Ks- 2,550 today while 2,048 shares of the of the Ever Flow River Group Public Co., Ltd and 1,148 shares of the AMATA were traded at Ks 2,550 and Ks- 5,000 per unit respectively.
Previously, only a few hundreds of the shares were trade on the YSX everyday but stock trading recovered since the beginning of this month with tens of thousands of shares being changed hands.
Previously, the YSX saw its lowest with only a few hundreds or thousands of shares traded on each day but has recovered as of this month with tens of thousands of shares in transaction. During the period from January to August this year, only a few hundreds of shares could be traded on the YSX except on 31 January with 10,505 shares, on 9 February with 10,672 shares and on 30 August with 20,369 shares. The worst scenarios occurred on 30 June, 25 May, on 23 March and 14 January when only 253, 369, 411, 475 shares of the seven listed companies were traded on the bourse respectively. However, stock trading has recovered by transacting 25,852 shares worth Ks- 84 million on 1 September, 23,923 shares worth Ks 99.8 million on 2 September and 34,530 shares worth 196.9 million on 5 September.
“It is the first time over Ks- 1 billion worth of shares were traded on the bourse. It is an abnormal behaviour of the market that the trading on the bourse changed overnight. I think some of the gold and forex market manipulators are targeting the stock market,” said a market observer.
