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Myanmar's 1st stock exchange begins trading

Xinhua, March 25, 2016 Adjust font size:

Myanmar's first listed company FMI hit the highest value Friday on the first trading day of Yangon Stock Exchange (YSX), the first bourse in the country.

The First Myanmar Investment (FMI) received more market order volume than its sale offer. The market order reached over 37,000 while sales offer stood at over 22,000 with the value of 26,000 kyats (21.5 U.S. dollars) at the opening stage.

After the first trading period of the day, the company hit the highest value of 31,000 kyats (25.63 U.S. dollars). The trading volume reached 42,610 shares.

The YSX was launched last December with six listed companies, two securities companies and one fund settlement bank, although it was not ready for trading by then.

Under an agreement signed in December 2014, the YSX is jointly owned by the state-owned Myanmar Economic Bank (MEB) with 51 percent and Tokyo Stock Exchange and Daiwa Securities Group with 49 percent. Endit