Jamaica Falls 2% As Gloom Grips Global Markets

7:00 PM January 14, Miami, Florida – Caribbean markets declined as world markets faced deepening gloom on the rising fears of deflation contagion originating from China. Crude oil dropped to 12-year low.

Caribbean markets declined and Jamaica led the region with a loss of 2% in thin trading.

In Jamaica trading, The JSE Market Index dropped 3,221.67 or 2% to 157,627.77 and The JSE Select Index declined173.75 or 3.1% to 5,435.38.

Trinidad Composite Index rose 0.47 to 1,164.14. Bahamas Stock Exchange Index edged up 0.04 to 1,827.45.

Of the 25 stocks traded on Jamaica Stock Exchange, 5 increased, 15 decreased and 5 were unchanged.

Jamaican dollar traded near record low and average buy rate against the U.S. dollar was 120.13 and sell rate was 120.76, according to the Bank of Jamaica website.

In Kingston trading today, 17.55 million units changed hands worth J$279.99 million and Supreme Ventures Limited led the most active list with 8.56 million units followed Sagicor Group Jamaica Limited with 5.21 million units.

Supreme Ventures Limited rose 2 cents to J$4.66 and traded 8,564,688 shares and Jamaica Broilers Group surged 90 cents to J$11.95 and traded 317,655.

Scotia Investments Jamaica Ltd. soared J$2.06 to J$27.20 and traded 49,315.

Sagicor Group Jamaica Limited declined 47 cents to J$23.02 and traded 5,208,162 shares and National Commercial Bank Jamaica Ltd. tumbled 64 cents to J$41.01 and traded 2,096,961.

Caribbean Cement Company Ltd. plunged J$2.40 to J$23.70 and traded 487,713.

Trinidad Market Overview

Trinidad Composite Index rose 0.47 to 1,164.14 and of the 9 stocks traded 1 advanced, 2 declined and 6 closed unchanged.

National Commercial Bank Jamaica Limited led the most active list and increased 3 cents to TT$2.28 and traded 4,527 shares.

Scotiabank Trinidad & Tobago Limited slipped 4 cents to TT$61.85 and traded 1,100 shares and Angostura Holdings Limited dropped 10 cents TT$13.64 and traded 850.

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