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COMMENTS
During 2002, performance
on the Lusaka Stock Exchange (LuSE) was varied. While market capitalization,
rose to K1,060.6 billion in 2002 from K966.1 billion in 2001, market
capitalization measured in US dollars declined by 0.8% to US $246 million in
2002. The decline in market capitalization was attributed to the unstable
macroeconomic environment especially the depreciation of the exchange rate.
Turnover,
number and volume of trades also declined. The turnover declined sharply to
K10.9 billion in 2002 from K155.4 billion in 2001 owing to less activity as the
number of trades on the LuSE fell to 1,565 in 2002 from 2,141 the previous
year. Similarly, the volume of shares fell to 82.8 million in 2002 from 9,753.7
million in 2001.
Indications
are that performance of LuSE in 2003 will be better with new listings expected.
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