NAIROBI (Reuters) – Kenya’s Nairobi Securities Exchange has launched day trading, it said on Friday, allowing investors to buy and sell securities multiple times in a single day, to increase liquidity at the bourse.
The exchange, which is among the biggest on the continent by trading volumes, is popular with foreign investors seeking exposure to East Africa’s fast-growing economies.
“Investors will exploit this solution in an effort to hedge risk and increase portfolio returns,” Kiprono Kittony, the chairman of the board of the NSE, said.
The NSE, which is home to 65 listed securities, has already seen a boost in its daily trading volumes after it introduced day trading on a trial run, Geoffrey Odundo, the chief executive of the bourse, said.
(Reporting by Duncan Miriri; editing by Barbara Lewis)
