7:00 PM January 8, Miami, Florida – Jamaica extended weekly gains and closed up 4% as world markets struggled with falling commodities prices and a surprise currency devaluation in China.
Market indexes in Jamaica extended weekly gains and indexes in Trinidad and in The Bahamas.
Markets in Europe and in New York struggled and declined more than 1% after China let yuan drift lower in a surprise move and commodities prices drifted to new 11-year lows.
In Jamaica trading, The JSE Market Index edged down 361.01 or 0.2% to 156,723.37 and The JSE Select Index increased 63.23 or 1.2% to 5,344.06.
For the week, JSE Market Index jumped 4%.
Trinidad Composite Index rose 1.32 to 1,161.35 and for the week the Index slid 0.1%.
Bahamas Stock Exchange Index fell 0.18 to 1,828.90.
Of the 24 stocks traded on Jamaica Stock Exchange, 8 increased, 13 decreased and 3 were unchanged.
Jamaican dollar traded near record low and average buy rate against the U.S. dollar was 119.66 and sell rate was 120.63, according to the Bank of Jamaica website.
In Kingston trading today, 4.07 million units changed hands worth J$63.79 million and Hardware & Lumber Ltd. led the most active list with 599,470 units followed Sagicor Group Jamaica Limited with 464,643 units.
Sagicor Group Jamaica Limited jumped 68 cents to J$22.76 and traded 464,643 shares and Caribbean Cement Company Ltd. soared J$1.16 to J$22.03 and traded 90,201.
Sagicor Real Estate X Fund Ltd. surged 83 cents to J$11.10 and traded 66,500.
Jamaica Broilers Group decreased 6 cents to J$10.68 and traded 462,348 shares and Berger Paints Jamaica Ltd. declined 38 cents to J$3.31 and traded 362,381.
Gleaner Company Ltd. dropped 8 cents to J$2.63 and traded 255,400.
Trinidad Market Overview
Trinidad Composite Index rose 1.32 to 1,161.35 and of the 15 stocks traded 4 advanced, 5 declined and 6 closed unchanged.
National Commercial Bank Jamaica Limited led the most active list and gained 6 cents to TT$2.18 and traded 161,378 shares and Sagicor Financial Corporation increased 3 cents to TT$6.31 and traded 93,518.
Republic Financial Holdings Limited added 1 cent to TT$112 and traded 54,335.
Clico Investment Fund decreased 2 cents to TT$22.73 and traded 56,917 shares and Scotiabank Trinidad & Tobago Limited slid 1 cent TT$61.89 and traded 7,510.
Trinidad Cement Limited slipped 5 cents to TT$3.93 and traded 5,000.