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Good week for JSE Junior Market

The Junior Market of the Jamaica Stock Exchange bounced for five trading days out of the last seven and closed the week on a strong note with 34 securities changing hands and leading to the prices of 21 securities rising, while eight declined and five remained unchanged.
The Junior Market Index advanced by 50.32 points to close at 2,144.08 after an exchange of 3,982,260 units accounting for $9,382,200 compared to 4,329,260 units valued at $9,680,619 on Thursday.
Trading ended with an average of 117,125 units for an average of $275,947 in contrast to 108,232 units for an average of $242,015 on Thursday. The average volume and value for the month to date amounts to units 215,698 valued at $506,536 and previously 220,993 units valued at $518,921. In contrast, February closed with an average of 167,673 units valued at 488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close of the market, AMG Packaging declined 14 cents in trading of 23,450 units at $1.51, CAC 2000 ended market activity exchanging 3,000 shares to close at $10 after falling $1.40, Caribbean Cream ended trading with 15,433 shares, after rising 65 cents to end at $2.76. Caribbean Flavours ended with a loss of $1 at a 52 weeks’ low of $9 with 1,106 stock units changing hands, Caribbean Producers declined 25 cents in trading 98,606 units at $2.25, Elite Diagnostic climbed 15 cents and exchanged 57,904 shares at $2.75. Everything Fresh closed with a loss of 3 cents at 57 cents in swapping 10,000 shares, Express Catering ended trading with 69,873 shares, after rising 10 cents to end at $3. Fontana closed 20 cents higher at $4.45, with 189,405 stock units changing hands. Fosrich closed 25 cents higher at $2.50, in trading 1,000 stock units, General Accident declined by 5 cents to settle at $4.50 trading 44,789 shares, GWest Corporation closed 13 cents higher at 85 cents, with 9,824 stock units changing hands. Honey Bun ended trading 32,000 shares, after rising 20 cents to close at $5.90, iCreate ended with 19,557 shares crossing the exchange, after rising 5 cents to end at 50 cents. Indies Pharma climbed 47 cents and exchanged 370,612 shares at $1.97, Iron Rock Insurance climbed 45 cents to $3.45, in swapping 1,000 units, ISP Finance lost $1 to close at $13 with 5,000 stock units changing hands. Jamaican Teas gained 6 cents and exchanged 16,160 shares at $3.99, Knutsford Express gained $1 to end at $7, with 1,740 stock units trading. KLE Group closed trading of 1,000 units and gained 4 cents to end at $1.25, Lasco Distributors added 10 cents in exchanging 537 shares at $3, Lasco Manufacturing lost 90 cents in trading of 1,457,018 units at $2.75. Lumber Depot rose 1 cent, transferring 787,765 shares at $1.21, MailPac closed trading of 451,161 units and gained 9 cents to end at $1.50, Main Event jumped 65 cents and closed at $4.50 after transferring 27,477 units. Medical Disposables climbed 80 cents and exchanged 14,650 shares at $6.50, Stationery and Office Supplies traded 2,112 shares, after rising 20 cents to end at $6 and tTech closed 75 cents higher at $4.25, with 50,000 stock units changing hands.

Prices of securities trading for the day are those at which the last trade took place.

JSE US dollar market ends week quietly

JSE US dollar market ends week quietly as two stocks recorded price changes. The new listing at the start of the week Trans Jamaican Highway dominated trading from its listing on Tuesday. It continued its dominance of the JSE US dollar market on Friday, accounting for 92.6 percent of the day’s volume, with the price remaining unchanged at the close.
At the close of trading, five securities changed hands, accounting for 2,129,328 units exchange for a value of US$64,366, in contrast to 5,389,685 units for $89,826 on Thursday. The market Index advanced 0.60 points to close at 197.53, with a loss of 12.7 percent for the year to date. The average PE ratio for US dollar-listed stocks is 20.7 times 2019 earnings but with the typical average being just under 14 when excluding the large ones.
In Trading, First Rock Capital shed 0.6 of a cent in trading 37,750 units to finish at 8.4 US cents, JMMB Group 6% preference share traded 15,000 units at US$1, Proven Investments ended at 24 US cents, with 83,966 shares changing hands. Sygnus Credit Investments fell 1 cent to close at 12 US cents, after swapping 33,122 units and Trans Jamaican Highway exchanged 2,129,328 units and closed at the listing price of 1 US cent but traded at an all-time intraday high of 1.09 US cents.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Aggressive price gains push JSE Main Market

Some aggressive price movements push JSE Main Market higher at the close of trading on Friday as investors seem to be putting the recent sharp sell-off behind them. In the end, Caribbean Cement jumped $4, Grace Kennedy $2, NCB Financial $2, Sagicor group $4.20, Scotia Group $3.50 and Seprod $2.The market ended, with the JSE All Jamaican Composite Index advanced 10,583.06 points to 394,457.50, the JSE Market Index climbed 9,599.14 points to 359,682.96 and the JSE Financial Index rose 3.61 points to 98.72.

JSE Main Market has bounced strongly off support shown by the blue line on two separate days.

The market closed with 46 securities changing hands in the Main and US dollar markets with prices of 24 stocks advancing, 12 declining and ten securities trading firm. The JSE Main Market activity ended with 41 securities accounting for 23,098,105 units valued at $104,845,950 in contrast to 276,324,388 units valued at $742,100,927 from 39 securities on Thursday.
Trans Jamaican Highway led trading with 9.7 million shares for 41.8 percent of total volume followed by Wigton Windfarm with 7.2 million units for 31.2 percent of the day’s trade, and Trans Jamaican Highway US$ with 2.1 million units for 9.2 percent of the market’s volume. The only other stock trading more than one million units is Pulse Investments, with 1.2 million units.
The Market closed with an average of 563,368 units valued at $2,557,218 for each security traded, in contrast to 7,085,241 units valued at an average of $19,028,229 on Thursday. The average volume and value for the month to date amount to 1,166,767 units valued at $7,327,128 for each security changing hands compared to 1,197,347 units valued at 7,209,844 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows eleven stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 15, while the Main Market ended at 14 times 2019 earnings.
In the Main Market trading, Barita Investments declined $1.50 to $51, trading 482,153 shares, Caribbean Cement climbed $4 higher to $49, with an exchange of 46,494 units, Eppley gained $1.71 to close at $12.21, with a transfer of 574 stock units. First Rock Capital slipped 60 cents to $9.50, after swapping 11,797 shares, Grace Kennedy added $2.30 to finish at $56.50, with 95,953 shares changing hands, Jamaica Broilers gained $1 and closed at $29, after trading 13,934 units. JMMB Group picked up $1.12 to finish at $35.45, with an exchange of 279,114 shares, Mayberry Jamaican Equities added 40 cents after 75,312 shares passed through the market to end at $7, MPC Caribbean Clean Energy sustained a loss of $12 to end at $135, with a mere 20 units crossing the exchange. NCB Financial Group closed $2 higher at $154, in trading 41,906 shares, 138 Student Living shed 81 cents to end at $4.69 exchanging 6,216 units, Portland JSX closed $1.60 lower to $7.30 after transferring just 416 units. Proven Investments ended at $35, after falling by $1 in trading 19,278 shares, Sagicor Group jumped $4.20 to $46.60, with 70,977 stock units changing hands, Sagicor Real Estate Fund fell 82 cents to $6.60 with the transfer of 5,774 units. Scotia Group climbed $3.50 to finish at $47.50 and trading 77,214 shares, Seprod added $2 to end at $39, with an exchange of 41,696 shares, Sterling Investments picked up 30 cents to close at $2.80, in transferring 1,300 units. Victoria Mutual Investments ended at $6.54, with gains of 48 cents and exchanging 160,790 shares and Wisynco Group closed at $13.30, with a loss of 70 cents after 558,494 shares crossed the exchange.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

 

 

 

NCB inflict pain in TTSE trading

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NCB Financial after trading for the first time since last week Friday, the stock price sank to $8.99 from $10 and contributed the most to the plunge 2.37 percent or more than 32 points in the T&T Composite Index to close at 1,328.99. The All T&T Index declined by 6.45 points to end at 1,749.07 while the Cross Listed Index fell 7.95 points at 122.99.

The TTSE composite Index dropping from 2020 high and now challenging the August 2019 levels before the 2019 second-half rally.

The market closed with six stocks rising and four declining, while seven remained unchanged. The volume of stocks passing through the market rose to 378,740 shares valued at $7,303,280 compared to 200,463 shares for $6,281,052 on Thursday.
IC bid-offer Indicator The Investor’s Choice bid-offer indicator ended with the bids of four stocks higher than their last selling prices and seven with lower offers.
Gainers│ Clico Investments rose 1 cent to end at $22, transferring 24,585 units, Grace Kennedy gained 5 cents trading 6,000 stock units and closed at $2.75, Guardian Holdings ended at $17.91, with a gain of 1 cent exchanging 494 units. JMMB Group closed 4 cents higher to $1.99, with 222,523 shares crossing the market, Trinidad & Tobago NGL added $1.50 after transferring 47,308 stock units and finished at $19.50 and West Indian Tobacco rose 2 cents to $33.68 in swapping 1,350 units.
Losers│ First Citizens Bank closed 50 cents lower exchanging 3,530 units to end at $38.50, Massy Holdings shed $1 to close at $54 trading 6,285 shares. National Flour ended at a 52 weeks’ low of $1.10, with a loss of 10 cents transferring 750 units and NCB Financial declined by $1.01 to $8.99, with 5,862 stock units changing hands.
Firm Trades│ First Caribbean International traded 715 units at $7.70, One Caribbean Media exchanged 130 stock units at $6.95, Point Lisas closed at $3.45, with 11,290 shares crossing the market. Prestige Holdings traded 4,500 stock units at $8.06, Republic Financial Holdings closed at $141.52, with 33,013 shares crossing the market, Scotiabank exchanged 1,655 units at $57 and Trinidad Cement ended at $1.75 with 2,000 shares changing hands.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Big bounce for JSE Main Market

NCB Financial one of the big contributors to the fall in the Main Market of the Jamaica Stock Exchange by knocking approximately 50,000 points off the index roared back in trading on Thursday, with a rise of $7 to close at $152 and in the process helped in pushing the two leading indices sharply higher.

NCB Financial Group contributed around 50,000 to the JSE index near 200,000 decline since the start of the year.

At the close, the market shows signs that it may have bottomed and is about to move higher and is partially reflected with a sharp rise in the JSE All Jamaican Composite Index jumping 8,783.35 points to 383,874.44 and the JSE Market Index climbing 7,989.93 points to 350,083.82. The JSE Financial Index gained 2.55 points to 95.11.
The market closed with 44 securities changing hands in the Main and US dollar markets with prices of 21 stocks advancing, 17 declining and eight securities trading firm. The JSE Main Market activity ended with 39 securities accounting for 276,324,388 units valued at $742,100,927 in contrast to 126,118,687 units valued at $211,017,961 from 40 securities on Wednesday.
Pulse Investments traded an unusually large 243.4 million shares for 88 percent of total volume followed by Trans Jamaican Highway with 19.7 million units for 7 percent of the day’s trade and Trans Jamaican Highway US dollar listing with 5.2 million units for 2 percent of the volume in both markets. Other stocks trading more than one million units were Carreras with 2.2 million units,

Strong signs of the market may have bottomed.

Sagicor Select Financial Fund with 1.3 million shares, Wigton Windfarm with 3.9 million units and Sagicor Select Manufacturing & Distribution Fund with 1.2 million shares.
The Market closed with an average of 7,085,241 units valued at $19,028,229 for each security traded, in contrast to 3,152,967 units valued at an average of $5,275,449 on Wednesday. The average volume and value for the month to date amount to 1,197,347 units valued at $7,209,844 for each security changing hands compared to 899,129 units valued at 6,578,450 for each security traded. Trading in February resulted in an average of 624,731 units valued at $3,239,665 for each security.
IC bid-offer Indicator At the end of trading, the Investor’s Choice bid-offer indicator reading shows 10 stocks ending with bids higher than their last selling prices and two stocks closing with lower offers. The PE ratio of the market ended at 14.9, while the Main Market ended at 13.8 times 2019 earnings.
In the Main Market, Barita Investments closed $1 higher to $52.50, with a transfer of 29,768 shares, Berger Paints ended at 52 weeks’ low of $9.50, after a loss of $1.50 and exchanging 50,996 shares, Caribbean Cement gained $5 to end at $45, in trading 53,275 units. Carreras closed 74 cents higher to $6.75, with 2,252,374 shares changing hands, Eppley shed $1 swapping 8,724 units and closed at $10.50, Eppley Caribbean Property Fund added $3.50 to end at $40, in trading 2,669 units. Grace Kennedy picked up 30 cents to finish at $54.20, in trading 58,581 shares, Jamaica Broilers ended at $28, with a loss of $1 with 25,066 units changing hands, Jamaica Stock Exchange climbed $2.50 to $18.50, after the transfer of 337,902 shares. JMMB Group slid$1.17 to $34.33, with an exchange of 102,095 units, Kingston Wharves lost 50 cents to close at $43.50 trading 6,667 units, Mayberry Jamaican Equities gained 60 cents trading 64,768 shares to end at $6.60. NCB Financial jumped $7 to $152, with 578,923 shares crossing the exchange, 138 Student Living added $1 to end at $5.50, with an exchange of 347 units, Portland JSX closed $1.60 higher to $8.90 after the transferring of 2,005 units. Proven Investments jumped $3.50 to $36, after exchanging 51,818 shares, Sagicor Group advanced by $2.40 to $42.40, in swapping 608,061 shares, Scotia Group regained ground with gains of $7 to settle at $44, with 170,469 shares changing hands. Seprod added $1 to end at $37, in trading 30,390 units, Stanley Motta shed 74 cents with a transfer of 7,500 units to end at $5. Sterling Investments closed 40 cents lower at $2.50 trading 68,830 units, Supreme Ventures ended at $14, with a loss of 99 cents exchanging 252,623 shares, Sygnus Credit Investments closed 53 cents lower to $16.50, trading 22,971 units and Wisynco Group swapped 840,773 shares at $14, after gaining $1.30.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

All but one Junior Market stock trade

Stability seems to be settling into the Junior market after sharp sell-off.

Trading on the Junior Market of the Jamaica Stock Exchange settled on Thursday with Index falling 20.09 points to close at 2,093.76 as 40 securities changed hands, leaving just one ordinary listing that had no trading. At the close of market activities, the prices of 17 securities advanced, 18 declined and five remained unchanged.
At the close, market activity resulted in an exchange of 4,329,260 units valued at $9,680,619 compared to 2,522,568 units valued at $6,848,779 on Wednesday and the average PE ratio of the market reached 9.8 times 2019 earnings at the close.
Trading ended with an average of 108,232 units for an average of $242,015 in contrast to 78,830 units for an average of $214,024 on Wednesday. The average volume and value for the month to date amounts to units 220,993 valued at $518,921 and previously 228,599 units valued at $537,599. In contrast, February closed with an average of 167,673 units valued at $488,038 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Access Financial fell 9 cents in trading of 17,601 units at $18.31, AMG Packaging climbed 35 cents and exchanged 10,515 shares at $1.65, Blue Power ended trading with 41,806 shares, after rising 31 cents to end at $4. CAC 2000 lost $1.10 in trading 700 stock units to close at $11.40, Cargo Handlers picked up 90 cents exchanging 3,301 shares at $6, Caribbean Brokers lost 1 cent to end at $1.97 with 26,640 stock units changing hands. Caribbean Producers closed trading of 196,025 shares and gained 17 cents to end at $2.50, Consolidated Bakeries shed 2 cents to settle at $1.46, after transferring 4,740 units, Dolphin Cove ended trading with 3,508 shares, after rising 10 cents to end at $6.50. Derrimon Trading ended with a loss of 1 cent at $1.46 with 5,000 stock units changing hands, Elite Diagnostic closed 30 cents lower to settle at $2.60 with an exchange of 52,000 shares, Express Catering shed 30cents in trading of 92,892 units at $2.90. Fosrich closed with a loss of 25cents at $2.25, swapping of 11,111 shares, Fontana gained 25 cents and exchanged 712,569 shares at $4.25, General Accident closed 55 cents higher at $4.55, with 56,268 stock units trading. GWwest Corporation closed trading of 35,075 units and gained 2 cents to end at 72 cents, Honey Bun lost 30cents in exchanging 31,546 units at $5.70, Indies Pharma closed with 31,960 shares, crossing the market after rising 25 cents to end at $1.50. IronRock Insurance closed trading of 5,365 units and gained 70 cents to end at $3, Jamaican Teas lost 3 cents to settle at $3.93 after transferring 10,766 units, Jetcon Corporation shed 3cents to close at $1, with an exchange of 90,061 shares. Key Insurance ended with a loss of 1 cent at 2 with 80,000 stock units changing hands, KLE Group closed with 47,367 shares, changing hands after rising 1 cent to end at $1.21, Knutsford Express ended with a loss of $1 to finish at $6 with 3,211 stock units changing hands. Lasco Distributors shed 10 cents in trading of 30,601 units at $2.90, Lasco Financial climbed 5 cents and exchanged 344,486 shares at $2.55, Lasco Manufacturing rose 15 cents and transferred 40,200 shares at $3.65. Limners and Bards lost 5 cents in trading 209,671 shares to close at $1.80, Lumber Depot closed 5 cents higher at $1.20, with 1,302,525 stock units trading, MailPac ended with 402,140 shares crossing the exchange, after rising 4 cents to end at $1.41. Main Event declined by 65 cents in trading of 69,210 units at $3.85, Medical Disposables ended market activity exchanging 72,841 shares to close at $5.70 after falling 40cents, Paramount Trading closed 8 cents higher at $1.98, with 4,000 stock units trading. Stationery and Office Supplies picked up 30 cents and exchanged 6,782 shares at $5.80 and tTech ended market activity trading 5,000 shares to close at $3.50 after falling 20 cents.

Prices of securities trading for the day are those at which the last trade took place.

TTSE stocks still under selling pressure

The decline in the Trinidad and Tobago Stock Exchange continued unabated into Thursday as declining stocks dominated rising ones leading to the T&T Composite Index falling 2.54 points to 1,361.21 and the All T&T Index slipping 5.87 points to 1,755.62 as the Cross Listed Index inched 0.11 points higher at 130.94.
The market closed with 14 securities trading and resulted in two stocks rising and six stocks declining, while six remained unchanged. The volume of stocks passing through the market fell to 200,463 shares valued at $6,281,052 compared to 1,141,627 shares for $5,923,432 on Tuesday.
IC bid-offer Indicator The Investor’s Choice bid-offer indicator ended with the bids of just one stock higher than their last selling price and six with lower offers.
Gainers│ Grace Kennedy gained 8 cents transferring 1,000 units and closed at $2.70 and Trinidad & Tobago NGL ended at $18, after rising 99 cents while exchanging 42,085 stock units.
Losers│ Clico Investments lost 1 cent to end at $21.99 in trading 69,301 units, JMMB Group slipped 5 cents to close at $1.95, exchanging 10,150 stock units, Massy Holdings fell by $1.50 to $55, with 177 units crossing the market. One Caribbean Media ended at a 52 weeks’ low of $6.95, after losing 5 cents in exchanging 1,018 units, Republic Financial Holdings shed 20 cents to end at $141.52 with 17,778 shares changing hands and West Indian Tobacco declined by $1.09 to $33.66, in swapping 4,323 stock units.
Firm Trades│ Angostura Holdings exchanged 125 units at $14.50, Ansa Merchant Bank transferred 1,194 stock units at $36.30, First Citizens Bank closed at $39, with 15,569 shares crossing the market.  Guardian Holdings traded 36,153 shares at $17.90, National Enterprises swapped 500 stock units at $5 and Prestige Holdings ended at $8.06, with 1,000 units changing hands.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

Trans Jamaica holds 97% of JSE US market

Trans Jamaican Highway is once more the most dominant traded stock in the Jamaica Stock Exchange US dollar market on Thursday, accounting for 97 percent of the day’s volume, just a fraction up on Wednesday’s level of 96.6 percent of the total volume traded.
Trading resulted in five securities changing hands accounting for 5,389,685 units crossing the exchange for US$89,826. At the close, the market advanced 9.58 points to close at 196.93 to be down 13 percent for the year to date.
In trading, First Rock Capital exchanged 12,089 units at 9 US cents, Productive Business Solutions gained 7 cents to end at 77 US cents, with 377 units changing hands, Proven Investments had 150,000 shares crossing the exchange at 24 US cents. Sygnus Credit Investments closed at 13 US cents after exchanging 1,600 units and Trans Jamaican Highway rose 0.1 of a cent to close at 1 US cent, in trading 5,225,619 units.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.

 

 

BOJ overnight rate still 0.50%

Bank of Jamaica announced the decision to maintain its accommodative monetary policy stance by holding the overnight policy rate offered to deposit-taking institutions at 0.50 percent per annum.
In announcing the decision to hold the rate Governor of the Bank of Jamaica, Richard Byles, stated, “I think it is important to emphasize that Jamaica’s financial system remains sound, well-capitalized and its current holdings of Jamaica Dollar liquid balances remain adequate. To ensure that orderly conditions are maintained, Bank of Jamaica has taken some pre-emptive measures to assure financial institutions and the public of adequate access to both Jamaica Dollar and foreign currency liquidity during this challenging period. There are a total of eight such measures, three in respect of foreign currency and five to do with Jamaica dollar liquidity.”
The central bank introduced a number of measures including the continued support of the foreign exchange needs of businesses in the real sector through direct sales to authorized dealers and Cambios, as needed. Increased limit on the foreign currency net open positions of authorized dealers by 5 percentage points.
The central bank states that it stands ready to expand the volume of foreign currency swap arrangements with authorized dealers. The stock of outstanding swap contracts now totals US$86 million.
The Bank commenced a bond-buying programme of GOJ securities on the secondary market from financial institutions and is prepared to effect early redemption BOJ securities. The Bank has so far purchased $26.3 billion GOJ instruments.
BOJ removed the limit on the amounts that deposit-taking institutions (DTIs) can borrow overnight without being charged a penal rate.

BOJ interest cuts overnight rate.

Effective today, we have re-introduced a longer-term lending facility, whereby Jamaica Dollar liquidity will be made available to DTIs for periods of up to six months. This enhances the ability of these institutions to secure their liquidity needs over a longer horizon.
We will re-activate an intermediation facility where BOJ will use its balance sheet to facilitate transactions between holders of liquid balances and others who require liquidity if needed. This facility should support a more even distribution of liquidity in the financial system in a context where institutions who could not access inter-bank loans because of the limits placed on them by lenders, can now do so indirectly with the central bank standing in the middle of the transaction.
As of 25 March 2020, the total value of liquidity assistance provided by the BOJ to the market via its short-term lending facilities and its asset purchase programme amounted to $57 billion.
“We believe that these measures will help to facilitate the smooth functioning of the credit market. Support inflation remaining within the inflation target of 4 percent to 6 percent over the ensuing eight quarters and will augment the fiscal measures already put in place by the Government,“ the BOJ governor stated.
The economic outlook, however, is characterized by significant uncertainty relating to the spread of the virus and the consequent depth and duration of the economic impact. In the near term, some upward price pressures can be expected due to supply chain disruptions and weather-related increases in agricultural prices. However, these will be offset by a sharp decline in oil prices and weaker consumer spending power, given the expected decline in economic activity. If the domestic and external responses to the pandemic have to be sustained for most of next fiscal year, the Jamaican economy will contract significantly. In this context, we expect inflation to be at the lower end of the 4.0 percent to 6.0 percent range over the fiscal year as well as the ensuing eight quarters.
The near-term outlook now, however, reflects significant challenges and heightened uncertainty due to COVID-19. Our monetary policy measures, along with the Government’s fiscal stimulus, are aimed at mitigating the impact of this pandemic on the economy and supporting a speedy recovery once the crisis has passed. BOJ states that it will continue to monitor the effects of COVID-19 on the economy closely. The central bank also indicates that it stands ready to deploy additional measures to ensure the continued smooth flow of liquidity to all participants in the Jamaican financial system and to maintain orderly conditions within the foreign exchange market. Actions the BOJ could take include a reduction of the policy rate and the cash reserves requirement,

Trans Jamaica dominates JSE US market

A leg of Highway 2000

Newly listed Trans Jamaican Highway continued to dominate trading in the US dollar market on Wednesday accounting for 96.6 percent of the total volume of 5,292,251 units for $93,450.
The US market index advanced 2.49 points to close at 187.35 after seven securities traded. First Rock Capital closed at 9 US cents, after gaining 0.6 of a cent in exchanging 8,982 units, JMMB Group 5.75% preference share rose 3 cents to close at US$2.15, with 2,165 units changing hands, JMMB Group 6% traded 2,821 shares at US$1. Productive Business Solutions shed 4 cents to end at 70 US cents with 123 units changing hands, Proven Investments gained half of a cent in trading 166,378 and closed at 24 US cents, Sygnus Credit Investments rose by 1 cent exchanging 107 units and closed at 13 US cents and Trans Jamaican Highway traded 5,111,675 shares at 0.09 of one US cent.

Prices of securities trading are those for the day’s last transaction unless otherwise stated.