Bourses’ bear-run to persist as investors flee into bonds

Some 15 firms listed in the Nairobi Securities Exchange issued profit warnings for 2018. PHOTO | FILE | NATION MEDIA GROUP

East Africa’s stockmarkets stayed on the downward path in the first three months of the year as local investors stayed away from the equity market and moved into government bonds to prevent value erosion with the falling share prices.

Equity market reports for quarter one show that investors increased their appetite for Treasury bonds compared with shares, leaving foreign investors to dominate the equity market.