Trading activity at the South Pacific Stock Exchange (SPX) surged to $61.2 million in the first quarter of 2026, a level the exchange described as “an encouraging start to 2026” and one that already eclipses the full-year trading values posted in each year from 2016 to 2024. The figure places the market on course to surpass last year’s total trading of $62.6 million well before mid-year, underscoring a marked upswing in liquidity and investor engagement on Fiji’s bourse.
SPX attributed the elevated turnover to stronger participation from institutional investors, which it said has created more consistent secondary market activity. The exchange highlighted several concrete developments during the quarter that signal the market’s broadening appeal: for the first time, the SPX recorded multiple product listings within a single year, including the equity listing of Shreedhar Motors Limited (SML) and a wholesale corporate bond issued by RB Patel Group Limited (RBG). SPX said growing interest from corporates exploring listing and capital-raising options points to a deepening pipeline of potential issuers.
Another major development was the Reserve Bank of Fiji’s approval for the establishment of SUN Stockbrokers, the first new stockbroker firm to enter the Fijian market in 25 years. The SPX noted the local market had until now been served by only three licensed stockbrokers; the arrival of SUN is expected to expand market access, improve service coverage and support broader investor participation when it begins operations shortly.
Foreign investor appetite also rose sharply in the quarter, with $15 million of inflows recorded into the Fijian stock market. SPX contrasted that figure with historically modest inflows — typically below $1 million in most years — and said the jump reflects growing international interest in Fijian securities. “Globally, stock markets play a key role in attracting foreign capital, and while Fiji remains a developing market, this trend signals emerging potential for the Fijian stock market to contribute more meaningfully to foreign investment inflows,” the exchange said.
SPX chief executive Sheraj Obeyesekere described the quarter’s results as a set of complementary milestones. “What is encouraging is that this progress is not limited to one area and is taking place on multiple fronts,” he said, pointing to companies raising capital through varied tools, the entrance of a new broker, rising institutional participation and growing foreign interest as converging signals of growing confidence in the market. Obeyesekere framed these developments as “early but important indicators” that the Fijian stock market is entering a new phase of growth.
The SPX statement and the quarter’s data mark a notable shift from prior years when trading volumes and foreign inflows were limited, posing constraints for companies seeking public capital and for the market’s overall liquidity. With multi-product listings, additional brokerage capacity and sizable foreign inflows already evident in the first quarter, investors and issuers will be watching whether the momentum continues through the rest of 2026 and if the SPX can sustain deeper secondary-market activity and an expanding roster of listed securities.
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