YANGON, July 4 (Xinhua) -- Myanmar's Yangon Stock Exchange (YSX) will soon allow foreign investors to trade on the exchange, the local Voice Daily reported Wednesday.
The new Companies Law, which will allow foreign investors to take up 35 percent in local companies as well as to trade at the YSX, will be in effect on Aug. 1.
The stock trading value of the five listed companies reached all-time low again in June, registering 666 million kyats (479,136 U.S. dollars), a sharp drop compared with May when it showed 869 million kyats (569,230 U.S. dollars), according to the figures from the YSX.
A total of 131,120 shares were traded by the five listed companies last month.
Stock trading value had reached low with 740 million kyats (544,117 U.S. dollars) in February this year.
Meanwhile, stock trading value on YSX was 22 billion kyats (16 million U.S. dollars) trading 2.6 million shares last year, resulting one-third of the trading value in 2016, which was 70 billion kyats (51 million U.S. dollars).
In accordance with the figures, a total of 11,895 shares were traded by the five listed companies at estimated value of 81.7 million kyats (58,827 U.S. dollars) when it closed on late Tuesday.
Decreasing share prices of listed companies and failure to attract public interest have become major factors to the apparent drop of stock trading value.
The online trading system on YSX has been recently introduced to attract more investors in the country's stock market as well as to promote stock trading value.
At present, five listed companies - First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB) and TMH Telecom Public Co. Ltd - are trading on YSX.
Jointly owned by the Myanmar Economic Bank, Japan's Daiwa Securities and the Japan Exchange Group, the YSX officially began trading on March 25, 2016.
