Golding presses government on weak JSE performance as micro stock market plans advance

Plans to establish a micro stock market are moving forward even as senior lawmakers debate the health of Jamaica’s main equities market.

Opposition Leader Mark Golding raised the issue in Parliament, arguing that local share prices have struggled for at least five years after a period of exceptional gains. He recalled that during the final full year of the Portia Simpson Miller administration, Jamaica recorded the world’s best stock market performance, describing that result as a major achievement. Since then, he said, returns have been weak and investor interest limited, and he pressed the government on what steps it would take to restore confidence in the equity market.

Finance Minister Fayval Williams accepted that more work is needed. She said many companies require greater technical assistance across several areas and that the administration is prepared to provide additional resources to support them.

On the trading floor, the Jamaica Stock Exchange main index gained 922 points, while the junior market index moved up by one point. Among the session’s stronger performers were Margaritaville Turks US dollar shares, Productive Business Solutions US dollar shares, Jetcon, Omni Industries, and Radio Jamaica. Shares that declined included Knutsford Express, One Great Studio Company, First Rock Real Estate Investment US dollar shares, 138 Student Living, and Palace Amusement. Fourteen stocks closed higher.

Official exchange-rate figures from the Bank of Jamaica had not been published by the time of reporting.