SPSE launches market index

October 29, 2009 12:15:26 PM

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Fiji’s South Pacific Stock Exchange has launched its own market index similar to indices for stock markets overseas.

The SPSE Total Return Index (STRI) will gauge the performance of Fiji’s equities market on a daily basis.

“In developing and maintain its own index, the SPSE should be able to provide great assistance to issuers and investors both at home and internationally, to monitor the level of market activity and make better and informed investment decisions and choices,” said Reserve Bank governor Sada Reddy.

Reddy launched the index and a new SPSE corporate logo at a cocktail in Suva last night to mark the SPSE’s 30th anniversary.

“STRI is an aggregate market capitalisation index which reflects the total returns on the stock market including the capital yield and the capital returns,” said SPSE chief executive officer Jinita Prasad.

She said the SPSE had a range of yet-to-be-launched other indices including an equal weighted index which would balance out the impact of heavily-weighted companies such as Amalgamated Telecom Holdings on the market.