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Tuesday 7th September 2010 |
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NZX reported a drop in the volume and value of total trades last month, as uncertainty surrounding the global economic recovery kept some investors on the sidelines.
The total value of trades sank 27% to $1.76 billion in August from the same month a year ago, with average daily trades also declining by 27% on the previous period to 1,948, which the company attributed to "muted demand for equities".
NZX stemmed declines in total trading value from the previous month, with August up 21% on July at $1.76 billion due to a 23% increase in the value traded on the main board of the exchange.
On the NZSX Market, value of trade dropped 26% to $1.69 billion and total traded slid 23% to 38,990 versus the same month in the previous period.
The NZDX debt market recorded a 41% decline in value of trade to $87 million, with 3,768 trades, down 21%.
On the NZAX market, which was established to help start-ups and firms with alternative structures such as cooperatives tap capital markets, trading value fell 58% to just $450,000 and total trades slumped 60% to 108.
The alternative market has a market capitalisation of $380 million, which declined by 35%.
Shares in NZX opened at $1.45, unchanged from yesterday.
Businesswire.co.nz
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