Weekly Financial Market Summary - May 24

In the forex market, the JMD straighten for a second consecutive week. The JMD strengthen by as much $3.14 this week. In comparison to the benchmark USD, the JMD appreciated by $0.76 to close at $135.44.

The Jamaica Stock Exchange (JSE) saw both the Main and Junior market advancing this weeks. The Main market advanced by 1.34% while the Junior market advanced by 2.11%. 138 Student Living (138SL), Sagicor Group Jamaica(SJ) and the Jamaica Stock Exchange (JSE) were the top three performing stock this week. The Jamaica Stock Exchange rebounded after being named one of the worst performing stocks in the previous week. Victoria Mutual Investments (VMIL), PanJam Investment (PanJam) and Mayberry Jamaican Equities (MJE) were the worst performing stocks this week. On the Junior market side, Jamaican Teas (JAMT), Express Catering (ECL) and tTech were the top performers; tTech rebounded after closing at J$5.32, the previous week.

In the international financial markets, the markets continue to perform poorly. The major indices continue to decline with the major indices declining by as much as 0.80%. Yields on all tenor of Treasury bonds continue to plummet, with yield falling as much as 9 basis points.