A security member stands outside the Yangon Stock Exchange center in Yangon, Myanmar, March 3, 2016. (Xinhua/U Aung)
Myanmar plans to allow foreigners to participate in daily share trading of listed companies on Yangon Stock Exchange starting from March 20.
YANGON, March 13 (Xinhua) -- Myanmar has planned to allow foreigners to participate in daily share trading of listed companies on Yangon Stock Exchange (YSX) next week, according to the press conference by the YSX on Friday.
"Both resident and non-resident foreigners will be allowed and the applications will be accepted individually or institutionally starting from March 20," said Htay Chun, commissioner of the Securities and Exchange Commission of Myanmar (SECM).
It was learnt that the percentage of foreign ownership that each listed company will allow, will be announced on the website of YSX soon.
Photo taken on Jan. 14, 2020 shows the Uppatasanti Pagoda, a prominent landmark in Nay Pyi Taw, Myanmar. (Xinhua/Wang Shen)
Aiming to boost the market, the YSX set to increase the stock trade matching time from four to seven per day starting from March 26.
Meanwhile, one local logistics service provider was listed as the sixth company to trade on the YSX and its trading is scheduled to start on March 20.
At present, the five listed companies -- First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB) and TMH Public Co. Ltd are trading on the YSX.
According to the YSX's figures, 21,794 shares were traded at estimated value of over 124 million kyats (88,588 U.S. dollars) when it closed on Friday.■
