23 new investors

TWENTY-THREE new/first time investors entered the stock market with the intention to invest.

The South Pacific Stock Exchange revealed that four existing investors were seen to be re-entering the stock market either to increase their existing shareholdings in listed companies and/or in some cases diversifying their investment portfolio by investing in additional companies.

According to the SPSE on a year-to-date basis, a total of 68 new investors have now entered the stock market over the six months of 2018.

In its monthly stock market trading report the SPSE stated that the month of June saw that majority of the new investors were individuals. It said these individuals included private and public sector employees, farmers, students and retirees.

The SPSE also noted that Communications Fiji Ltd (CFL) also recorded multiple trades whereby one of the founding shareholders liquidated part of its shareholding allowing CFL employees to purchase shares and become shareholders in the company.

It said it was a welcome change for the stock market as CFL being a listed company, was seeing to be promoting a saving and investment culture within their workforce. This also supplemented the month of June’s statistics for individual investors.

Meanwhile a review of the new investors by type of employment indicated that majority of the new investors entering the stock market were those employed in the private sector while those employed in the public sector rank second which was followed by retirees.