Myanmar Yangon today News

Yangon Myanmar Today News

Some christian news and views about Burma (Myanmar). The authorities are ordering the churches in Yangon to stop the meeting. Work on Yangon furniture zone. When you have inside information on a topic in the news, contact the ABC. Kandawgyi Palace Hotel on the lakeshore in Yangon, Myanmar, was completely destroyed in a major fire.

Yangon Stock Exchange - Xinhua - Myanmar allows trading by non-residents

YANGON, July 4 (Xinhua) -- Myanmar's Yangon Stock Market (YSX) will soon allow international traders to trades on the stock market, the Chinese Voice Daily said on Wednesday. On August 1, the new corporate law will come into force, allowing international shareholders to acquire 35 per cent of the shares in domestic enterprises and act on the YSX.

In June, the market capitalization of the five publicly quoted corporations fell to an all-time low of 666 million Kyat (479,136 US dollars), a strong decline from May's 869 million Kyat (569,230 US dollars), according to YSX numbers. Last months five publicly quoted corporations tradled a combined 131,120 stocks.

The market value had bottomed out in February this year at 740 million Kyat (US$ 544,117). Meanwhile, the value of YSX equity trades last year was 22 billion Kyat ($16 million), equivalent to one third of the 2016 value, or 70 billion Kyat ($51 million).

The five publicly quoted corporations totaled 11,895 stocks valued at 81.7 million Kyat ($58,827) when they close later Tuesday. Falling equity markets of publicly quoted corporations and a lack of interest on the part of the general population have become key drivers of the seeming decline in market value.

YSX's on-line system was recently launched to increase its capital isation and attracts more traders to the country's exchanges. Currently, five publicly traded corporations - First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB) and TMH Telecom Public Co.

are traded on the YSX. The YSX, a joint property of Myanmar Economic Bank, Japanese Daiwa Securities and Japan Exchange Group, formally commenced operations on March 25, 2016.

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