LBR LBO Summit
LBR LBO Summit

Sri Lanka * market update * Asian markets mixed, Brent 39.47; CTHR traded

December 11, 2015

CTHR : 3.66 mn shares traded on CSE 12:48:55 – Rs140.00 – 1,974,964 shares; 12:48:37 – Rs140.00 – 1,686,445 shares. Now flat at 135. (Dec 11, 1.31 p.m).

The 31 percent slide in Brent crude prices this year is hurting Asia’s only major net exporter of oil Malaysia which gets 22 percent of government revenue from oil-related sources. (Dec 11, 11.05 a.m).

Asian shares mixed with Hang Seng down 0.72 percent and Nikkei up 97 percent, Brent crude at 39.47 dollars per barrel. ASPI up 0.14 percent (Dec 11, 11.00 a.m).

December 10, 2015

TPG Growth, the middle market and growth equity investment platform of global private investment firm TPG, today announced the acquisition of a 28% stake in Asiri Hospital Holdings (“Asiri”) from Actis, a leading emerging markets private equity investor. Asiri is the largest multi speciality private healthcare business in Sri Lanka, which is controlled by the Softlogic group led by Ashok Pathirage, Softlogic said in a statement (Dec 10, 11.40 a.m).

Actis has sold a 27 pct stake in Asiri Hospitals for LKR7.6bln to TPG, a market source said (Dec 10, 11.00 a.m).

USD.LKR quoted at 143.20/25 after closing at 143.18/25 on Wednesday dealers said. (Dec 10, 10.45 a.m)

Renuka Foods will issue 28,188,306 new ordinary voting shares of the company at 30.45 rupees per share exclusively to CJ Patel and Company Limited, Fiji and Eagle View Management Ltd, Hong Kong by way of a private placement and share swap, a statement said.  An Extra Ordinary General meeting of the shareholders of Renuka Food will be held on January 6. (Dec 10, 09.00 a.m)

Chinese stocks were up in Asia on Thursday after news broke that Beijing will finally introduce much-need IPO reforms. China’s Shanghi Composite was up at 3,479.05, up 0.19 percent while Hong Kong’s Hang Seng was lower at 21,811.47 points, lower 0.04 percent. In Japan the Nikkei was lower at 251 points or 1.3 percent at 19,049. Seoul Kospi was down 2.41 points or 0.12 percent at 1,945. Australian stock market was down with the ASX 200 down by 75 points at 5,005. (Dec 10, 2015 08.30 a.m) 

December 09, 2015

Si Lanka’s Commercial Bank announced that they would commence money transfer operation in Italy, a stock exchange filling said. The statement said that the operation will be carried out through an authorized payment institution in Italy. “The regulatory approvals from both countries has been received.” ( Dec 09, 2015 11.30 a.m)

The Colombo Stock Exchange said in a statement that Chacra Capital Holdings bought 3.3 million shares of CIC (voting) and 1.5 million Non-voting shares on Tuesday. “Three shareholders of Chacra are Directors of CIC,” the statement said. ( Dec 09, 2015 10.30 a.m) 

December 08, 2015

Asian stocks opened mixed on Tuesday as a seven-year low in oil dragged energy and commodity shares in Australia but boosted prospects of companies elswhere, foreign media reports said. Australia’s ASX 200 fell 0.7 percent and Japan’s Nikkei 225 rose as much as 0.10 percent before giving up some gains, Singapore’s STI 0.8 percent and South Korea’s KOSPI 0.2 percent. (Dec 08, 2015 09.00 a.m)

USD/LKR 143.25/35 after closing at 143.30/35, dealers said. (Dec 08, 2015 09.00 a.m)

 December 07, 2015

ASPI trading at 6,871.36 points, higher at 0.03-pct, with lackluster trading so far, brokers said. Active trading was seen in Lanka Hospitals with the stock trading at 63.00 rupees, up 2.10 rupees after hitting a 53 week high of 63.60 rupees. Waskaduwa Beach Resort rights shares started trading. (Dec 07 10.30 a.m)  USD/LKR opened at 143.25/30, dealers said (Dec 07 09.00 a.m) 

December 04, 2015

ASPI opened at 6,866.36 points, down 0.21-pct. Losses in Distilleries Company (Dec 04 09.00 a.m)  USD/LKR opened at 143.25/30, dealers said (Dec 04 09.00 a.m) 

December 03, 2015

Prime Minister Ranil Wickramasinghe told Parliament Thursday that the cabinet has approved the ‘ Right to Information ‘ bill. (Dec 03, 2015 12.50 p.m) 

“We can consider giving car permits to public servants once in 10 years instead of every five years,” Prime Minister told Parliament.  (Dec 03, 2015 12.30 p.m) 

ASPI trading at 6,869.44, up 0.10-pct, gains in JKH.  (Dec 03, 2015 09.00 a.m) 

USD/LKR 143.23/30, dealers said. (Dec 03, 2015 09.00 a.m) 

Asian stocks opened lower on Thursday, after U.S. oil’s slide below 40 US dollars for the first time since August. Japan’s Nikkei index was at a near flat, down 13 points or 0.06 percent at 19,926, in early trade, as investors remained cautious over Japan’s fragile economy while South Korean market traded down with investor confidence weighed by Wall Street and lower commodities prices, the Kospi was down at 1998 points, down 12 points or 0.6 percent in early trade. Australia’s ASX was also down at 1 percent in early trade, weighed by lower commodities prices. Hong Kong’s Hang Seng index was trading at 22,418.53 points, down 61.16 or 0.27 percent while Chain’s Shanghai composite is trading at 3,564.09 points, up 27.19 or 0.77 percent. (Dec 03, 2015 08.00 a.m) 

December 02, 2015

One off the floor trade of 7 million shares of John Keells Holdings at 181.00 rupees a short while ago, brokers said. (Dec 02 2015 2.30 p.m) 

The Government Medical Officers’ Association is to launch an island-wide strike from tomorrow as the authorities failed to respond its concerns. (Dec 02 2015 1.30 p.m) 

SriLankan airlines canceled three of their flights to Chennai today due to the heavy rains lashed the southern Indian city of Chennai on Monday and Tuesday, closing the Chennai International Air Port. (Dec 02 2015 12.00 p.m) 

ASPI trading at 6,877.97, down 0.25-pct with losses in JKH and low investor activity, brokers said. JKH is trading at 179.79 rupees, down 2.00 rupees.  (Dec 02 2015 12.00 p.m) 

USD/LKR quoted at 143.25/30, dealers said.  (Dec 02 2015 12.00 p.m) 

ASPI trading at 6,902.95 ,up 0.11 -pct with gains in telecom stocks such as Dialog Axaita and Sri Lanka Telecom, brokers said. (Dec 02 2015 10.30 a.m) 

December 01, 2015

ASPI trading at 6,903.44, down 0.08-pct (Dec 01, 2015 12.30 p.m) 

USD/LKR opening 143.27/35, dealers said after closing at 143.27/30. (Dec 01, 2015 09.20 a.m) 

Asian stocks were up on positive data from the region’s biggest economy. Metals also gained. The MSCI Asia Pacific Index rose 1.5 percent, after sliding 1 percent in the last session and in Japan, the Nikkei index added 1.2 percent after gaining 1.4 percent in November. The Kospi index in Seoul climbed 1.3 percent after South Korean exports fell less than expected last month. Australia’s S&P/ASX 200 Index rallied 2 percent, the most since Nov. 19. The official manufacturing PMI for China slipped to 49.6 for November, according to the National Bureau of Statistics, with economists predicting a reading of 49.8. (Dec 01, 2015 09.00 a.m)

November 30, 2015 

ASPI at 6,920.75, down 0.6-pct with losses in JKH and some banking stocks, brokers said. (11.50 a.m) 

USD/LKR quoted at 143.25/30, dealers said. (Nov 30, 2015 10.45 a.m)

Asian stocks open mixed on the back of a mixed close from Wall Street last week. China’s Shanghai Composite was up in early morning trade, up 8 points, or 0.22 percent, at 3,444.00 while Hong Kong’s Hang Seng was marginally down at 0.06 percen, lower 13.17 points. Japan’s Nikkei was trading at 63 points, or 0.32 percent lower at 19,820 after data released showing an upward trend in industrial production and retail sales for October. In Seoul Kospi was down 1.33 percent on Monday morning, as investors remain cautious over Asian equities. (Nov 30, 2015 08.00 a.m)

Friday 27, 2015

USD/LKR closes at 143.15/30, dealers said. (Nov 27, 2015 18.15 p.m)

Asian budget carrier, AirAsia shares fell as much as 7-pct on Friday following losses reported in the September quarter, foreign media reports said. The firm posted a loss of 95.8 million dollars in the quarter hurt by foreign exchange, it said while its Indonesian operations also dragged on the firm’s bottom line.  (Nov 27, 2015 10.30 a.m)

Asian stocks markets were lower following a Wall Street holiday for Thanksgiving Friday. Japan’s benchmark Nikkei 225 was down 0.3 percent to 19,886.35 while South Korea’s Kospi was up 0.1 percent at 2,031.99. Hong Kong’s Hang Seng dropped 1.00 percent to 22,269.02 and China’s Shanghai Composite fell 0.8 percent to 3,605.64. Other regional markets were also lower, falling in Taiwan, Australia, the Philippines, Indonesia and Singapore. (Nov 27, 2015 09.00 a.m)

Thursday 26, 2015

USD/LKR open at 143.05/30, dealers said. (Nov 27, 2015 09.00 a.m)

USD/LKR trading at 143.10/25, dealers said. (Nov 26, 2015 3.20 p.m)

ASPI  closed down 0.7-pct with losses in JKH. (Nov 26, 2015 3.20 p.m)

ASPI trading at 6,983.13 points, down 0.38 percent with losses in JKH, brokers said. (Nov 26, 2015 10.30 a.m) 

Brent and U.S. crude oil futures traded nearly flat on Thursday ahead of a Thanksgiving holiday in the US. U.S. crude’s West Texas Intermediate (WTI) futures hit both the negative and positive territory in morning trade, slipping 2 cents, or 0.05 percent, to 43.02 US dollars a barrel as of 0133 GMT while Brent edged down 8 cents, or 0.17 percent, to 46.09 US dollars a barrel. U.S. crude edged higher earlier in the day, supported by a smaller-than-expected build in U.S. inventories. (Nov 26, 2015 09.00 a.m)

USD/LKR opened at 142.95/05, dealers said. (Nov 26, 2015 09.00 a.m)

Asian stocks rose as a weaker yen boosted Japanese exporters and health-care shares to advance. The MSCI Asia Pacific Index gained 0.4 percent to 134.3 while Japan’s Nikkei added 0.4 percent after the yen slid 0.2 percent against the dollar on Wednesday. Australia’s S&P/ASX 200 Index gained 0.8 percent and New Zealand’s S&P/NZX 50 Index added 0.2 percent. South Korea’s Kospi index rose 0.5 percent. Markets in Hong Kong and China have yet to open. (Nov 26, 2015 08.00 a.m)

Tuesday 24, 2015

USD/LKR quoted 142.70/143.00 after closing at 142.70/90, dealers said. “Highest trade was done at 142.70, a dealer said. (Nov 24. 2015 09.10 a.m)

The US dollar rose to an eight-month high on Monday amid heightened expectations that the U.S. Federal Reserve might raise interest rates next month, driving down the prices of copper, gold and other metals, foreign media reports said. World equity markets slipped, with U.S. stocks ending slightly lower in quiet trading after strong gains last week. (Nov 24, 2015 08.15 a.m)

Sri Lanka’s proposed  ’emission tax’ of Rs.5000 on cars will not be applicable to three wheelers and motorcycles, Ravi Karunanayake, finance Minister said. (Nov 24, 2015 07.07 a.m)

Monday 23, 2015

Litro Gas said prices have been reduced with effect from today. Price of the 12.5 kg Cylinder of domestic Gas will be Rs 1346.00 within the Colombo area. Prices of the 5 kg and the 2.5 kg Cylinders will be Rs 572.00 and Rs 273.00 respectively. (Nov 23, 2015 11.15 a.m)

ASPI up 0.59 percent on 338 million rupees turnover on optimism over budget (Nov 23, 2015 09.40 a.m)

USD/LKR opening 142.45/60 after closing at the same rate on Friday, dealers said. (Nov 23, 2015 09.00 a.m) Asian stocks pointed higher Monday morning after U.S. shares had their best week this year.  Both oil and gold slipped. (Nov 23, 2015 08.00 a.m)

New Zealand and Australia, the first two major markets to open, were up 0.7 percent and 0.1 percent. (Nov 23, 2015 08.00 a.m)

Japan,  is closed for a holiday, Hong Kong futures are up about 0.3 percent, and Hong Kong, China and Korea futures are also higher. (Nov 23, 2015 08.00 a.m)

China’s Shanghai Composite traded 3 points, or 0.08 percent, higher on Monday, after briefly dipping into red at the open. Seoul Kospi also continued to gain, trading 14 points, or 0.73 percent, higher at 2,005 while in Hong Kong, the main Hang Seng Index opened in the red, down 46 points or 0.20 percent, ahead of a series of earnings reports.  (Nov 23, 2015 08.00 a.m)

Sri Lanka’s People’s Insurance, a fully owned subsidiary of People’s Leasing and Finance will be listed on the Colombo Stock Exchange through issuing offer 50 million shares, a statement said. “Through the Initial Public Offering, People’s Insurance will offer 50 million shares at 15 rupees each with the total value being 750 million rupees,” the CSE said in a stock exchange filling. The IPO will officially open is on 16 December. Joint financial advisors for the IPO are NDB Investment Bank Ltd., Acuity Partners Ltd. and People’s Bank’s Investment Banking Unit. (Nov 23, 2015 06.00 a.m)

Friday 20, 2015 

Bartleet Religare Securities: The first full blown budget of the coalition Government was far kinder than the capital markets evidently expected. Sri Lanka has planned a budget deficit of 5.9% of GDP (LKR 740bn) for 2016, in the same neighbourhood of the 2015 deficit of 6%. However, contrary to Finance Minister’s guidance provided prior to the budget, more came from indirect taxes (LKR90bn out of proposed 223bn came from Nation Building Tax (NBT), a turnover tax of sorts) pushing up the indirect tax revenue proportion. Encouragingly, all prominent revenue proposals came from recurring sources as opposed to the interim budget’s regressive quick fixes.

We believe this is a sustainable budget with realistic deficit targets although the revenue challenges in the macro sphere seem to remain. Sri Lanka’s budget 2016 has no clear revenue generation measures explained: WA Wijewardane, former deputy governor of the Central Bank, said.

Anush Wijesinha, chief economist of the Ceylon Chamber of Commerce said it was a positive budget. It’s a good budget. Gives effect to what PM articulated 2 weeks ago.

Good balance between short and medium term. Cash transfers. Technology. – Deputy Minister Harsha De Silva tweeted.

“Increased emphasis on Senior citizens deposits with reducing the qualifying age to 55 from 60 years and increasing the deposit size from 1 million to 1.5 million to increase pressure on NIM’s with upward pressure from Interest Cost,” Yohan Samarakkody, SC Securities

“EXIM idea sounds good, FDI concessions are also good,” said an economist in Colombo Reducing taxes on tile and sanitary and removing ceramic products from negative list focusing on reducing the local market prices can have a negative impact on the listed tile counters such as Royal ceramics, Lanka Tiles and Wall Tile PLC with increased competition based on price – Yohan Samarakkody, SC Securities

Liberalization of Lubricants and to go beyond the few players can affect LLUB and LIOC lubricants industry with possible new players that can come in. Liberalization of Bitumen can affect the LIOC biuemen business Bunkering industry to be liberalized can affect the LIOC bunkering business with new players walking in,  Yohan Samarakkody, head of research SC Securities said.

10 billion rupees to be spent from Jan 1st to setup a national digital Identity platform – good initiative – Shiran Fernando

“Micro economy  policies would help development and growth of SMEs and industries” – Shiran Fernando, economist Frontier Research

“Increased attention to SME sector and funding is commendable. Good for Sanasa Development Bank, HNB prime grameen. Also promoting private banks to fund this sector with an allocation of 500 million with 70.0 percent redressing when defaulted will support SME loan disbursement,” Yohan Samarakkody, head of research SC Securities said.

ASPI trading at 6,998.08 points, down 0.31-pct ahead of budget speech, brokers said.

Sri Lanka’s cabinet had given approval for 2016 budget proposals (Nov 20,2015 01.35 p.m)

USD/LKR opening 142.35/55 after closing at 142.40/50, dealers said. (Nov 20, 2015 09.00 a.m)

Asian stock markets are trading on a mixed note as the US dollar held its biggest slump in a month with oil at near a three-month low, according to foreign media reports said. The MSCI Asia Pacific Index lost 0.3 percent as Japanese shares led declines. (Nov 20, 2015 08.00 a.m)

Japan’s Nikkei dipped 5.32 points to 0.43 percent while South Korea’s Kospi index was trading lower at 0.04 percent. (Nov 20, 2015 08.00 a.m)

In markets in Hong Kong the Hang Seng Index was up marginally 2.92 points to 0.04 percent while in China the Shanghai Composite was marginally up 16.95 points to 0.47 percent. (Nov 20, 2015 08.00 a.m)

Finlays Colombo PLC will de-listed thirty five million ordinary voting shares from the Official List of the Colombo Stock Exchange, the company said. The Board of Directors and Management of Finlays Colombo have been authorized to submit the Application to the Securities and Exchange Commission of Sri Lanka (SEC) in terms of the Securities and Exchange Commission of Sri Lanka Rules and authorized to complete the delisting. In a stock exchange filling the company said that it is also resolved that pursuant to the change in status of the Company from a public listed company to a public un-listed company, the name of the company is changed from Finlays Colombo PLC to Finlays Colombo Limited in terms of the Companies Act No. 7 of 2007.

Thursday 19, 2015

USD/LKR 142.35/55, dealers said.(Nov 19, 2015 12.40 p.m)

ASPI trading at 7,001.43, up 0.28 percent, dealers said.  (Nov 19, 2015 12.40 p.m)

Asian Stocks were up following in gains in the US markets and positive Federal Reserve comments. The MSCI Asia Pacific Index advanced 0.7 percent to 132.47 points. In markets in Hong Kong the Hang Seng Index was up 85.83 points to 1.29 percent while in China the Shanghai Composite was marginally up 10.37 points to 0.29 percent. Japan’s Nikkei rose 276.50 points to 1.41 points ahead of a Bank of Japan rates announcement while South Korea’s Kospi index rose 0.7 percent. Australia’s S&P/ASX 200 Index gained 1.1 percent. New Zealand’s NZX 50 Index added 0.1 percent. (Nov 19, 2015 08.00 a.m)

Wednesday 18, 2015 

“Parliament will be converted to a constitutional assembly to abolish the Executive Presidency from next term; it will not affect current President.” Foreign Minister Mangala Samaraweera said. (Nov 18, 2015 3.50 p.m)

Cabinet approval has been granted for the President’s proposal to abolish the Executive Presidency and introduce a new electoral system, sources said. (Nov 18, 2015 12.30 p.m)

Asiri Hospitals Holdings has purchased 20,417,874 shares of Central Hospitals from Actis Investment Holdings at 41.42 rupees per share, the company said in a stock exchange filling. The company now hold a 77.62 percent stake in Central Hospitals while another subsidiary, Asiri Central Hospitals holds a 22.11 percent. (Nov 18, 2015 11.30 a.m)

USD/LKR  142.30/50, dealers said. The rupees hit a new record low of 142.50/70, Tuesday. (Nov 18, 2015 09.00 a.m)

Asian stocks were up on early Wednesday, boosted by gains in Japanese shares ahead of the Bank of Japan policy meeting, foreign media reported. The Asia Pacific MSCI Index gained 0.3 percent to 132.26 while New Zealand’s S&P/NZX 50 Index rose 0.1 percent. Australia’s S&P/ASX 200 Index lost 0.3 percent and in Japan Nikkei was up 155.00 point at 0.79 percent while South Korea’s Kospi index rose 0.2 percent. Markets in Hong Kong and China have yet to open. (Nov 18, 2015 08.00 a.m)

Gold prices slipped in Asia on Wednesday more than 1 percent pressured by expectations that the United States will raise interest rates in December, foreign media reports said. Overnight, gold futures fell sharply on Tuesday to fresh five-year lows, as investors continued to brush off geopolitical concerns from terrorist attacks in Paris dampening the precious metal’s value as a safe haven asset. (Nov 18, 2015 08.00 a.m)

Tuesday 17, 2015 

According to an announcement, T.Senthilverl has increased his shareholding in Panasian Power to 10.2 percent of the issued shares. Counter closed with flat returns at  3.70 rupees. Access Engineering announced that the company has invested 92 percent in Horizon Knowledge City Ltd (HKC) for consideration of 575 million rupees. HKC has been incorporated with objective of providing higher education and university infrastructure facilities. ASPI trading at 6,971.65 up 0.08-pct, with institutional buying and 5 off the floor trades amounting to 85 percent of turnover (1.12 billion rupees) so far,  brokers said. National Development Bank 2.4 million shares were traded off the floor at 221.00 rupees and Royal Ceramics 1 million shares at 108.00 rupees. Asiri Hospitals two crossings of 9 million shares at 24.50 rupees and 2.7 million at 25.00 rupees. (Nov 17, 2015 12.30 p.m)

President is to present a cabinet paper tomorrow to abolish the Executive Presidency and to introduce a new electoral system, sources say. (Nov 17, 2015 12.05 p.m)

USD/LKR strengthens to 142.35/45 after sliding to a new record low of 142.50/70, dealers said (Nov 17, 2015 12.00 p.m)

USD/LKR slid to a new record low of 142.50/70 amid high excess liquidity in money markets, dealers said. “The rupee opened around 142.20/25 but was quoted as low as 142.50/70 during mid morning trade.” (Nov 17, 2015 11.30 a.m)

Asian stocks were up early on Tuesday, following gains on Wall Street, foreign media reports said. Asia-Pacific’s MSCI’s index of shares were up 0.3 percent while Australian shares also showed gains of 0.8 percent. Japan’s Nikkei was up 1.3 percent. Wall Street had its strongest session in three weeks on Monday, as the Dow Jones rose 1.4 percent and the S&P 500 surged 1.5 percent. (Nov 17, 2015 07.55 a.m)

Expectations for a rate hike by the Federal Reserve in December kept the dollar on a bullish footing, foreign media said. The dollar stood near a 1-week high of 123.33 yen and dollar also stood tall against the Swiss franc, another safe-haven, after advancing to an 8-month high.

The euro was steady at USD 1.0688 after losing about 0.9 percent overnight. (Nov 17, 2015 07.55 a.m)

Monday 16, 2015 

USD/LKR closed at 142.20/30, dealers said. Since September the the rupee (LKR) has devalued 5.38 percent. (Nov 16, 2015 5.30 p.m)  

ASPI closed down 35.83 points at 6,965.98 lower 0.51 percent. S&P SL20 closed 42.29 points lower at 3,744.71 down 1.21 percent. Turnover was 677 million rupees, down from 779 million rupees on Friday with 51 stocks closing positive against 99 negative. USD/LKR quoted at 142.17/20, dealers said. (Nov 16, 2015 1.30 p.m)  

Asian stocks were down early Monday, with investor sentiment badly hit by Friday’s terrorist attacks in Paris, foreign media reports say.

China’s Shanghai Composite index fell 0.65 to 23.44 points while Hong Kong’s Hang Seng index was also down 1.39 percent at 306.30 points.

Japan’s Nikkei was down 186.03 points to 0.95 percent and South Korea’s Kopsi was taken lower and is trading at 17.56 points, down 0.88 percent. (Nov 16, 2015 08.00 a.m)

Friday 13, 2015 

USD/LKR quoted at record low 142.15/25, dealers said. “Rupee was quoted around 142.20/50 in during trading today, there is to much liquidity in the market.” (Nov 13, 2015 3.00 p.m)

Asian stocks were down in early morning trade on Friday following losses on Wall Street amid sharp falls in the price of commodities.

USD/LKR at 141.95/10 in thin trade, said dealers Crude prices hit a two and half week low on Thursday after the U.S. government reported a stockpile build four times above market expectations. Crude was last seen 0.3 percent lower at USD 41.62 a barrel in early Asian trade. Brent crude was at USD44.04 per barrel, near a several year low of USD42.69 in August. Gold and Copper were also trading at all time lows with Gold tumbling to its lowest since 2010 while Copper fell it’s weakest level in more than six years.

China’s Shanghai Composite index fell 1.6 to 50.84 points as energy-related stocks and airlines slipped on the back of declining oil prices. Hong Kong’s Hang Seng index was also down 2.2 percent at 477.57 points as investors await the third-quarter gross domestic product (GDP) data due later on Friday.

Japan’s Nikkei was down 174.75 points to 0.89 percent and South Korea’s Kopsi was taken lower to a near six-week trough by lagging refiners and automakers and is trading at 20.71 points, down 1.04 percent (Nov 13, 2015 08.30 A.M)

Thursday 12, 2015 

ASPI trading at 7,008.23 points, down 0.16 percent with low investor interest and volumes ahead of Nov budget, brokers said. (Nov 12, 2015 12.35 a.m)

USD/LKR spot opening 141.90/05, dealers said. “We expect the currency to hover around current levels ahead of the 2016 budget to be presented on Nov 20.” The rupee ended slightly firmer on Wednesday at 141.92/98. (Nov 12, 2015 08.45 a.m)

Wednesday 11, 2015

USD/LKR closed at 141.92/98 slightly firmer, a dealer said. “Exporters are selling but in low volumes and importers are a bit cautious and booking forward ahead of  the 2016 budget announcement, scheduled for next Friday. ” (Nov 11, 2015 5.15 p.m)

Sri Lankan stocks closed down at 0.44 percent on Wednesday with low investor activity ahead of next week’s budget with losses in some index heavy and banking sector stocks , brokers said. The Colombo benchmark All Share Price Index closed down 30.98 points at 7,019.23 lower 0.44 percent. S&P SL20 closed 35.08 points lower at 3,786.89 down 0.92 percent. Turnover was 547 million rupees with 38 stocks closing positive against 107 negative. (Nov 11, 2015 3.50 p.m)

ASPI trading at 7,017.89, down 0.46 percent with low turnover and investor activity ahead of next Friday’s budget, brokers said. (Nov 11, 2015 11.15 a.m)

ASPI opened at 7,046.42, lower 0.05 percent.  (Nov 11, 2015 09.15 a.m)

USD/LKR quoted at 141.90/142.00 says dealer (Nov 11, 2015 09.00 a.m)

Asian stocks were down as investors were cautious on expectation of Chinese economic data with crude oil dropping, foreign media reports said.

China’s Shanghai Composite index was down 0.20 percent at 7.37  points while Hong Kong’s Hang Seng index was also lower at 11.87 points, down marginally 0.05 percent. Japan’s Nikkei was down 41.71 points, lower 0.21 percent and South Korea’s Kopsi was down 0.59 percent at 11.87 points. (Nov 11, 2015 08.00 a.m)

Monday 09, Nov 2015 

ASPI closed at 7,050.21 points down 0.31 percent, ahead of a bank holiday Tuesday with losses in  JKH and banking and finance sector stocks, brokers said.

Turnover was 491 million rupees.One crossing was recorded in Distilleries Company of 100,000 shares at 278.00 rupees.

Analysts said investors are keeping away awaiting more clarity on economic policies from the 2016 budget announcement, on November 20.

ASPI trading at 7,052.16, down 0.12 percent with losses in blue chip firms and banking and finance sector stocks, brokers said.

“There is low investor activity ahead of a mid week holiday tomorrow,” Lanka Securities said.

Turnover is at 188 million rupees. (Nov 09, 2015 12.15 p.m)

USD/LKR at 141.90/142 says dealer (Nov 09, 2015 11.29 a.m)

Asian stocks started the week mixed, following a similar handover from Wall Street with weak commodity prices.

China’s Shanghai Composite index was up at 1.47 percent at 52.66 points while Hong Kong’s Hang Seng index outpaced its mainland peers to climb 47.78 points, up 0.21 percent. Japan’s Nikkei also up at 368.64 points, higher 1.91 percent. (Nov 09, 2015 08.00 a.m)

Friday 06, 2015 

The ASPI gained sharply on Friday to close above its one week high as the blue chips such as John Keells Holdings and Sri Lanka Telecom recorded sharp price increases, brokers said. The day’s turnover crossed 1.7bn rupees mark. Foreign investors were net sellers during the day. (Nov 09, 2015 4.00 p.m)

ASPI trading at 7,064.71 points, up 0.68 following the PM’s positive economic mid and long term policy statement in parliament on Thursday after-noon with gains in most blue chip firms, brokers said.

JKH trading at 186.50 rupees, up 5.00 rupees Aitken Spence Holdings trading at 92.30 rupees, up 0.30 rupees with 1.1 million shares traded off the floor at 92.30 rupees.

Access Engineering trading at 23.50 rupees, up 0.20 rupees with three off the floor trades of 3.4 million shares at 23.00 rupees.

Active trading was seen in Lanka Hospitals with the stock at 56.00 rupees, up 2.00 rupees after hitting a 52 week high of 58.00 rupees.

The PM in his statement said that Non strategic enterprises, some of which the government owns without any necessity to, such as shares in hotels and Lanka Hospitals will be divested on the capital market. (Nov 06, 2015 11.30 a.m)

USD/LKR opening 141.45/55 on Friday from a close of 141.50/60, dealers said. (Nov 06, 2015 09.30 a.m)

Thursday 05, 2015 

ASPI closed at 7,017.39, up 0.20 percent with gains in blue chip stocks, brokers said. Turnover 779.8 million rupees. 

ASPI trading at 7,002.39, down 0.02 percent with losses in some blue chip stocks, brokers said. (Nov 05, 2015 12.39 p.m)

USD/LKR 141.45/141.60 dealers said. Central Bank holding of government securities drops to 82 billion rupees from 226 billion rupees on sovereign bond proceeds. (Nov 05, 2015 09.20 a.m)

Wednesday 04, 2015 

USD/LKR 141.50/141.60 dealers said. (Nov 04, 2015 12.16 p.m)

USD/LKR 141.40/141.45 dealers said. (Nov 04, 2015 11.50 a.m)

USD/LKR 141.25/141.35 dealers said. (Nov 04, 2015 11.30 a.m)

ASPI hits a low of 6,989.16, down 11.25 points at 0.16 percent 

USD/LKR 141.20/141.25 dealers said. (Nov 04, 2015 10.00 a.m)

Asian stocks rallied early Wednesday following a positive lead from Wall Street and firmer crude oil prices.

China’s Shanghai Composite index was up 67.72 points, up 2.04 percent while Hong Kong’s Hang Seng index rose 671.07 points to 2.89 percent. Japan’s Nikkei also rose 451.68 points, up 2.42 percent. (Nov 04, 2015 08.30 a.m)

Tuesday 03, 2015

USD/LKR opening 141.00/141.08, dealers said.

Asian stocks rose on Tuesday following a gains on Wall Street overnight, but markets in China are having a day of choppy trading amid news reports of on illegal futures trading and ongoing anti-corruption investigations into some companies, foreign media reported.

China’s Shanghai Composite index was marginally up at 0.02 percent while Hong Kong’s Hang Seng index outpaced its mainland peers to climb 306.13 points, up 1.37 percent. Japan’s Nikkei was down however at -399.86 points, down 2.10 percent. (Nov 03, 2015 10.00 a.m)

Monday 02, 2015

Sri Lanka’s Access Engineering is to raise 5.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing. The company has decided to issue 30 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in the event of over subscription, subject to the necessary regulatory approvals. The subscription list will be open on 12 November 2015 and NDB Investment Bank is managing the debt issue. (Nov 02, 2015 13.30 p.m)

Sri Lanka’s diversified Carson Cumberbatch said it intends to make an offer to purchase remaining Equity One ordinary shares at 77.50 rupees per share. Equity One announced today that they are to de-list its ordinary shares from the official list of the Colombo Stock Exchange subject to necessary approvals. (Nov 02, 2015 12.00)

ASPI trading at 7,047.28 up 0.07 percent, brokers said.

Active trading was seen in Hayleys Fiber trading at 71.50 rupees, up 4.60 rupees and Textured Jersey trading at 33.00 rupees, up 0.30 rupees.

No off the floor trades have been recorded so far.  Turnover 45 million rupees. (Nov 02, 2015 10.00 a.m)

USD/LKR opening 140.95/141.05, dealers said.

Asian stocks made losses early Monday, as Chinese data pointed to a slowdown in Chinese factory activity.

China’s Shanghai Composite dipped 1.26 percent to 3,340. Japan’s Nikkei was down 1.61 percent to 18,777 in morning trade while Hong Kong’s Hang Seng was down 0.99 percent to 22,416.

Oil prices slumped, too, according to new number released on Monday and over the weekend as China’s efforts to stimulate its economy haven’t worked, foreign media report showed. (Nov 02, 2015 8.30 A.M)

Friday 30,  2015 

USD/LKR quoted at 140.98/141.05 after opening at 140.90/141.00, dealers said.

ASPI at 7,055.95, down 0.20 percent with losses in JKH and Hemas holding, brokers said. (Oct 30, 2015 11.00 A.M)

Thursday 29, 2015 

USD/LKR at 140.98/141, little activity in bonds as market awaits bond auction tomorrow.

Emerging-market stocks and currencies lower after the Federal Reserve says possibility of increase to U.S. interest rates this year. The MSCI Emerging Markets Index fell the most since September. (Oct 29, 2015 13.30 p.m)

Wednesday 28, 2015 

Bond yields drop 30 to 40 basis points Wednesday after the government sold a 1.5 billion dollars sovereign bond on expectations of lower pressure on domestic bond markets, dealers said. 2 year bond was quoted at 7.30/45 percent while 5 year bond was quoted at 9.00/10. The 20 year bond was quoted at 10.80/90. (Oct 28, 2015 11.30 a.m)

USD/LKR strengthens to 140.80/90 after Sri Lanka sovereign bond issue for USD1.5 billion. (Oct 28, 2015 09.30 a.m)

Asian stocks declined as investors awaited a Federal Reserve monetary policy statement, while the Australian dollar plunged following weak inflation report.

The Asia Pacific MSCI  dipped 0.8 percent led by material and energy shares while Hong Kong’s Hang Seng Index fell 0.4 percent. China’s Shanghai Composite Index retreated 0.5 percent and Kospi index in Seoul retreated 0.3 percent. Tokyo’s Topix index rose 0.2 percent. (Oct 28, 2015 09.30 a.m)

Monday 26, 2015 

Asian stocks extended their rally on Monday, after another rate cut in China.

The People’s Bank of China (PBOC) lowered its benchmark interest rates by 25 basis points, alongside a half-percentage cut in the reserve requirement ratio (RRR), to stimulate its economy. Friday’s move is the sixth time since November that the PBOC has cut interest rates. Analysts predict further easing from the European Central Bank and the Bank of Japan. China’s move highlights policy divergence with the U.S. The Japanese stocks opened higher and extend gains with the Nikkei gaining 1.32 percent while Australian benchmark,  S&P/ASX is up at 0.15 percent. 

China’s Shanghai Composite index, up 0.72 percent and Hong Kong’s Hang Seng gains 0.30 percent.  (Oct 26, 2015 09.00 a.m)

USD/LKR opening 141.00/141.15 dealers said, with market eyes on today’s bond auction. (Oct 26, 2015 09.00 a.m)

Friday 23, 2015 

Asian stocks were up in early morning trade on Friday influenced by Wall Street gains and the European Central Bank’s statement on bond-buying program before the end of 2015.

The Japanese stocks opened higher and extend gains into the second straight session with the Nikkei gaining 2.22 percent to 18,845 points while Australian benchmark,  S&P/ASX is up at 1.60 percent to 5,352 led by the banking stocks.

China’s Shanghai Composite index, up 0.22 percent at 3,376 and Hong Kong’s Hang Seng gains 1.30 percent to 23,145. (Oct 23, 2015 08.00 a.m).

Thursday 22, 2015 

30 Billion T Bond Auction announced for 26th October Maturity – 15/09/2019 Amount – 7 bn Coupon – 10.60% Maturity – 01/10/2022 Amount – 7 bn Coupon – 10.00% Maturity – 01/09/2028 Amount – 6 bn Coupon – 11.50% Maturity – 15/03/2035 Amount – 10 bn Coupon – 11.50% Auction date 26th October Settlement 02nd November

USD/LKR at 141.00/10, short term bonds look attractive says dealer. 4-year treasuries traded up to 9.10/20 levels from 9.05/ 9.10 now dipping again (Oct 21, 2015 11.05 a.m).

Wednesday 21, 2015 

ASPI closed at 7,055.67 points, up 0.20-pct with gains for the second consecutive day amid the concern on policy direction fading out with Finance Ministers’ pre-budget comments, brokers said. USD/LKR quoted 141.00/05, dealers said. (Oct 21, 2015 2.00 p.m)

ASPI trading at 7,057.22 up 0.22-pct with gains in the index heavy stocks., brokers said.

Three off the floor trades were recorded in JKH amounting to 1.6 million shares at 171.50 rupees contributing 280 million rupees to the turnover. Bairaha Farms hit a 52 week high of 240.50 rupees and is now trading at 233.00 up 2.30 rupees. (Oct 21, 2015 10.45 a.m)

USD/LKR opening 141.00/10, dealers said. (Oct 21, 2015 09.00 a.m)

Asian stocks opened mixed early Wednesday with China’s main index turning negative after hitting 3,436 points – its highest level in nearly two months – earlier in the session.

China’s main index, the Shanghai Composite, was down 0.29-pct to 3,415.75 points while in Hong Kong, the Hang Seng fell 0.37-pct to 22,989.00 points.

The region’s largest market, Japan’s Nikkei index up 0.81-pct to 18,555.00 points while South Korea’s Kospi was also up 0.16-pct in early trade at 2,042.28 points. (Oct 21, 2015 09.00 a.m)

Tuesday Oct 20, 2015

Bond market volatile with moves both up and down (Oct 20, 2015 10.10 a.m)

Asian stocks opened mixed on Tuesday, with energy shares declining. (Oct 20, 2015 09.30 a.m) 

USD/LKR opening 141.00/10 dealers said. (Oct 20, 2015 09.00 a.m)

Monday Oct 19, 2015 

CBSL holding of government securities drops to 168 billion rupees from 211 billion rupees on Friday with the proceeds of Sri Lanka Development Bonds (Oct 19, 2015 05.00 p.m).

ASPI closed lower at 7,017.35, down 0.05-pct, on Monday for a fifth consecutive day ahead of the governments monetary policy review, brokers said. Turnover was 1.2 billion rupees, up from 525 million on Friday with 67 stocks closing positive against 73 negative. (Oct 19, 2015 03.30 p.m)

USD/LKR quoted at 141.00/141.05 with the rupee trading weaker on Monday in dull trade due to importer dollar demand, while banks US dollar sales helped prevent the local currency from falling further, dealers said. (Oct 19, 2015 02.00 p.m)

People’s Leasing and Finance (PLC.N) active with 98 million rupees worth of shares traded, share now up 0.49 percent to 20.60 rupees. Foreigners exited 428K shares last week in PLC. The company is subjected to Super Gain Tax as it has done LKR3,463mn in FY2014 which is over LKR2,000mn cap.

Also, with the vehicle importation restrictions with tax revisions expected in the forth coming budget and Loan to Value ratio changes, the company’s earnings potential going forward looks limited, says SC Securities.

The company has heavy exposure to Lease and Hire purchase where 73.9% of the group interest income was generated from this segment and 64.5% of the Operating profit before VAT was generated from this segment.

ASPI now down 0.05 percent on 387 million rupees turnover. (Oct 19, 2015 09.00 a.m)

USD/LKR opening 140.90/141.05, slightly weaker from Friday’s close of 140.92/97 dealers said. (Oct 19, 2015 09.00 a.m)

Asian stocks opened mixed on expectations of Chinese growth data showing a further slow down of the economy.

China’s main index, the Shanghai Composite, was marginally up by 0.2-pct to 3,397.97 points while in Hong Kong, the Hang Seng fell 0.2-pct to 23,006.3 points.

The region’s largest market, Japan’s Nakkei was also down 1.1-pct 18,090.38 points while South Korea’s Kospi was flat in early trade at 2,032.5 points. (Oct 19, 2015 08.00 a.m) 

Friday, Oct. 16 2015  

USD/LKR quoted at 140.95/141.00. Dollar selling by banks eased the pressure, import demand was there but at levels seen in the last few days, dealers said. The rupee hit a record low of 141.40 per dollar on 28 September. (Oct 16, 2015 1.20 p.m)

ASPI down at 7,023.19, down 0.11-pct with not much activity in index heavy stocks and low institutional activity and Aitken Spence trading at 52 week low of 93.80 rupees, brokers said. Hayleys Fiber is up 10-pct and now trading at 70.20 rupees, up 6.20 rupees. (Oct 16, 2015 12.30 p.m)

ASPI trading at 7,040.24 up 0.14-pct with gains in Ceylon Tobacco and Dialog Axaita with over 2.4 million shares traded. (Oct 16, 2015 10.00 a.m)

USD/LKR opening 140.95/141.05 with active trading in bonds, dealers said. (Oct 16, 2015 09.00 a.m)

Asian stocks rise for a third straight day with Japan’s Topix index up 0.8 percent and South Korea’s Kospi index higher at 0.2 percent. New Zealand’s S&P/NZX 50 Index rose 0.6 percent and Australia’s S&P/ASX 200 Index gained 1.1 percent.  (Oct 16, 2015 08.00 a.m)

Thursday, Oct. 15 2015  

USD/LKR quoted at 140.90/141.00 dealers said (Oct 15, 2015 1.00 p.m)

5 million shares Dialog crossing done at 11 rupees (Oct 15, 2015 12.15 p.m)

Former President Mahinda Rajapaksa who arrived at the ‘Presidential Commission to investigate large scale fraud’ forwarded an initial objection over appointing High Court judges to commission; Hearings suspended till tomorrow. (Oct 15, 2015 11.58 a.m)

Counters exposed to Super gains tax with annual earnings over LKR2bn in 2013/14: Access Engi LKR2,996mn, SPEN LKR4,509mn, Bukit Darah LKR7,873mn, Carson LKR7,879mn, Ceylon Tobacco LKR9,263mn, Chevron LKR2,532mn, Commercial Bank LKR10,573mn,  DFCC bank LKR3,102mn, Dialog LKR5,194mn, Distilleries LKR6,578mn, HNB LKR7,010mn, JKH LKR13,011mn, LOLC LKR3,107, NDB LKR2,712mn, Nestle LKR3,348, Peoples Leasing LKR3,463mn, Sampath Bank LKR3,638mn, SLT LKR5,337mn says Yohan Samarakkody, head of research at SC Securities (Oct 15, 2015 10.53 a.m)

It has been a month since the Super Gains Tax was again taken up in the Parliament (22nd September). There is a buzz that the Super Gains Tax will be taken up for debate next week at Parliament gathering. Certainly we can expect a share price reaction in counters exposed for the Super Gains tax, says Yohan Samarakkody, head of research at SC Securities (Oct 15, 2015 10.40 a.m)

T Bond yields in secondary market drop further 20 basis points to add to drop over last several days. Bond yield curve dropped 30-35 basis points yesterday. Early interest in Seylan Bank non-voting with 473,434 shares traded says SC Securities. SEYB.X Trading flat at 75 rupees. ASPI down 0.07 percent. Seylan non voting accounts for third of market turnover  (Oct 15, 2015 10.18 a.m)

USD/LKR quoted at 140.90/141 dealers said. (Oct 15, 2015 10.00 a.m)

Wednesday, Oct. 14 2015  

ASPI closed at closed down 38.13 points at 7,040.32 down 0.54 percent while S&P SL20 closed 32.33 points lower at 3,778.88 lower 0.85 percent. “Investors are still keeping to the side lines awaiting policy directions from the government,” Lanka Securities said.

USD/LKR quoted at 140.70/75 dealers said. (Oct 14, 2015 2.20 p.m)

13 year bonds down from 10.80-pct to 10.40-pct, six year from 9.80 percent to 9.35 percent, threeyear from 9.30 percent to 8.90 percent as yield curve corrects after previous rise, dealers said. (Oct 14, 2015 12.20 p.m)

ASPI trading at 7,086.91 up 0.12-pct with gains at JKH and some other high caps, brokers said. (Oct 14, 2015 11.15 a.m)

USD/LKR quoted at 140.70/75 with Exporters holding on to their dollars on expectations of a further fall, dealers said.  (Oct 14, 2015 11.15 a.m)

USD/LKR opening 140.55/65 dealers said. The rupee traded weaker on Tuesday due to importer dollar demand and weak exporter dollar sales.  (Oct 14, 2015 09.15 a.m)

Asian stock markets extended losses with Japan’s Nikkei 225 down 1.9-pct to 17,891.58 and South Korea’s Kospi dropped 0.5-pct to 2,008.96. Hong Kong’s Hang Seng was down 0.8 percent to 22,414.79 while the Shanghai Composite Index was down 0.4-pct to 3,280.96. Australia’s S&P/ASX 200 fell 0.5 percent to 5,176.50. But stocks in Singapore were higher after preliminary data showed the country narrowly avoided a recession in the third quarter. (Oct 14, 2015 09.15 a.m)

Tuesday, Oct 13 2015 

3-year bond at 9.05 percent down from 9.38 percent on Oct 7 (Oct 13, 2015 5.15 p.m)

Treasury bond yields tumble further in secondary market, down around 50 basis points from Friday’s level says dealer. “Market is taking a correction after few months of upward movement expecting a Fed hike and foreign outflow,” a senior dealer said.

CSE said voting shares of JKH, Commercial Bank and HNB were listed from 01 September 2015 to 30 September 2015 consequent to the exercising of employee options under share option schemes. John Keells Holdings 18,265 shares (stated share capital as of 30 September 2015 is 50.8 billion rupees). Commercial Bank 146,343 shares  (stated share capital as of 30 September 2015 is 23.1 billion rupees). Hatton National Bank voting shares 368,177 shares and non voting shares 60,708 shares (stated share capital as of 30 September 2015 is 13.57 billion rupees) (Oct 13, 2015 10.20 a.m)

USD/LKR opening 140.30/45, dealers said.  (Oct 13, 2015 09.20 a.m)

Asian stocks dropped from a seven-week high, as Japanese shares declined 1.08 percent after a holiday while in China investors await trade data. The MSCI Asia Pacific Index fell 0.3 percent to 133.76 as of 9:00 a.m. in Tokyo while Shanghai Composite Index slipped 0.5 percent to 3,270.59. Brent crude 50.34 dollars per barrel, up 0.96 percent but off recent 53.05 high on Oct 8. (Oct 13, 2015 09.00 a.m)

Monday, Oct. 12 2015

USD/LKR quoted at 140.38/45, dealers said. (Oct 12, 2015 2.20 p.m)

ASPI trading at 7,110.90 up 0.21-pct with gains in some index heavy stocks  and some bargain hunting by some retail investors, brokers said. Active trading was seen in Janashakthi Insurance trading at 20.90 rupees, up 0.90 with the stock hitting a 52 week high of 21.20 rupees. AIA Insurance is trading at 349.90 rupees, up 58.40 rupees. (Oct 12, 2015 10.20 a.m) USD/LKR opened at 140.25/35 after closing stronger at 140.30/40 from 140.50/60, Friday. (Oct 11, 2015 09.05 a.m) Asian markets opened positive on optimism that China’s stock rout may be nearly over. Hang Seng was up 1.29 percent, and Shanghai CSI 300 was up 1.79 percent. Brent crude 52.75 usd/bbl up 0.19 percent, Gold 1157.79 up 0.11 percent. Some analysts say China’s market rally short lived, while chances of a Fed liftoff this year have fallen to below 50 percent, with traders predicting a 62 percent chance of a rate hike by March. (Oct 12, 2015 08.02 a.m)

Friday, Oct. 09 2015

USD/LKR closes stronger at 140.30/40 from 140.50/60 previous day. Central Bank holding of treasury bills and bonds increases to 200.4 billion rupees, a level last seen in late 2012 (Oct 09, 2015 06.30 p.m)

ASPI trading at 7,099.44 up 0.18-pct and turnover 570 million rupees. Bond yields dip across the board (Oct 09, 2015 12.15 a.m)

USD/LKR stronger at 140.20/30 says dealer. Brent crude was at 53.29 dollars per barrel up 0.45 percent, gaining this week after a month spent below 50 dollars a barrel. Not yet a ‘dead cat bounce’ (Oct 09, 2015 9.18 a.m)

Thursday, Oct. 08 2015

Foreign bank buying in bonds seen, 3-year bond dips by 5 basis points to 9.30/35 percent says dealer. USD/LKR closes at 140.60/70 (Oct 08, 2015 5.30 p.m)

Bond market down across the board by 7 – 10 basis points, says dealer. (Oct 08, 2015 1.10 p.m). ASPI now trading at 7,079.08 down 0.09-pct. (Oct 08, 2015 11.45 a.m).

USD/LKR now quoted at 140.60/70 says dealer (Oct 08, 2015 10.00 a.m).

ASPI now trading at 7,086.57 up 0.02-pct.

Wednesday, Oct. 07 2015

USD/LKR now quoted at 140.40/60 says dealer (Oct 07, 2015 10.14 a.m)

USD/LKR stronger at 140.45/65 on exporter dollar proceeds and expected dollar inflows, down from 141.00/05 on Tuesday, says dealer. Comprehensive Partnership agreement with Japan likely to support markets (Oct 07, 2015 9.20 a.m)

Tuesday, Oct. 06 2015

USD/LKR picks up to 140.95/00 for few hours with a local commercial bank selling dollars, now at 141.00/05 with some buying coming in (Oct 06, 2015 1.32 p.m)

ASPI trading at 7,081.72 down 0.10-pct with losses in index heavy and some banking stocks, brokers said. Two off the floor trades were recorded at JKH over 500,000 at 166.00 rupees and Distilleries Company over 150,000 shares at 274.00 rupees. The crossings accounted for 28 percent of the turnover so far. The National Development Bank, NDB hit a 52 week low price of 220.00 rupees. (Oct 06, 2015 12.20 p.m)

Asian markets rallied on Tuesday with the Nikkei up 1.09 percent and the Shanghai composite up 0.48 percent after S&P climbed 1.8 percent. Australia held interest rates unchanged  and Japan begins a two-day policy meeting. USD/LKR was quoted at 141.00/10 (Oct 06 9.51 a.m)

Monday, Oct. 05 2015

ASPI trading at 7,099.18 down 6.48 points at 0.12-pct with losses in some telecom stocks and low volumes and investor activity, brokers said. DFCC Bank 200,000 shares traded off the floor at 180.50 rupees. Activity in textile sector stocks with  Textured Jersey trading at 33.10 rupees, up 0.90 rupees and Hayley’s MGT trading at 19.90 rupees, up 0.50 rupees. Reserve Bank of India Governor Raghuram Rajan now at Cinnamon Lakeside for event (Oct 05 11.51 a.m).

USD/LKR opening at 141.20/35, dealers said. (Oct 05 9.00 a.m)

The Central Bank ended daily ceiling for the spot US dollar on September 04 and reduced overt interventions in the inter-bank market with the rupee coming under pressure from a combination of loose monetary and fiscal policy.

Friday, Oct. 02 2015

USD/LKR quoted at 141.20/25, dealers said. (Oct 02 1.00 p.m)

ASPI trading at 7,091.09 up 10.61 points at 0.15 -pct with gains in index heavy stocks, brokers said. Turnover crossed the one billion mark with crossings accounting for 80 percent. JKH – 10 crossings amounting to 4.4 million shares at 170.00 rupees, Nestle Lanka 24,000 at 2,125.00 rupees and Distilleries Company 150,000 shares at 270.00 rupees. Active trading in Janashakthi Insurance and Lanka IOC.  (Oct 02 11.30 a.m)

USD/LKR opening at 141.25/35, dealers said. (Oct 02 09.00 a.m)

Thursday, Oct. 01,  2015

USD/LKR closed at 141.25/35, dealers said. (Oct 01 5.00 P.M)

Sri Lankan stocks closed up 0.42 percent on Thursday with  foreign investors activity rose to record the highest foreign participation after 17 months, brokers said. ASPI closed up 29.61 points at 7,080.48 higher 0.42-pct.  (Oct 01, 2015 4.09 p.m)

USD/LKR at 141.25, eight year bond down 5 basis points to 10.05/15 percent (Oct 01, 2015 1.10 pm)

ASPI trading at 7,074.76 up 0.34-pct with bargain hunters entering the market buying in to blue chip firms, dealers said. Seven crossings at JKH with over 2.5 million shares traded at 171.00 rupees and Commercial Bank over 1.2 million shares traded at 160.00 rupees. There was mostly institutional activity with the crossings accounting for over 72 of the tunover. (Oct 01, 2015 12 noon)

USD/LKR quoted at 141.20/30, dealers said.  Some foreign and local buying in bonds. Especially 8 year yield down 8 basis points, dealers said.  (Oct 01, 2015 09.30 a.m)

Wednesday, Sept. 30 2015

USD/LKR closed 141.23/30, dealers said.  high at 141.30, low at 141.20. (Sept 30, 2015 4.30 p.m)

ASPI trading at 7,077.62 down 0.11-pct with index heavy stock making losses, brokers said. Several off the floor Chevron Lubricants were recorded during morning trade with 1.2 million shares traded at 370.00 rupees. The  trade accounted 77 percent of turnover. (Sept 30, 2015 11.20 a.m)

USD/LKR quoted at 141.20/35, dealers said. (Sept 30, 2015 9.30 a.m)

Tuesday, Sept. 29 2015

Prime Minister assures that local government elections will be held next March, says media report. (Sept 29, 2015 1.08 p.m)

India’s cuts policy interest rates by a larger-than-expected 0.50 percentage points to support the economy  amid China’s slowdown. The benchmark repurchase rate was cut to 6.75 percent from 7.25 percent with most analysts expecting only a quarter percentage point cut. (Sept 29, 2015 11.30 a.m)

USD/LKR opens at 141.10/40, says dealer.  (Sept 29, 2015 9.21 a.m)

Monday, Sept. 28 2015

USD/LKR closed lower at 141.15/25, dealers said after opening at 140.95/10 and hitting a high of 141.30. (Sept 28,2015 4.30 p.m)

ASPI  closed at 7,078.64 down 0.45-pct with losses in some index heavy and banking stocks and low retail investor activity, brokers said. (Sept 28, 2015 3.55 p.m)

Central Bank Governor Arjuna Mahendran says no restrictions on market participants speaking to media. Information flow is key to growing markets, he said. (Sept 28, 2015 1.55 p.m)

Central Bank Governor Arjuna Mahendran says economy growing at healthy 6.7 percent in second quarter explaining current monetary policy position.  (Sept 28, 2015 1.15 p.m)

Central Bank Governor Arjuna Mahendran to hold press conference at 1 p.m in Colombo (Sept 28, 2015 11.20 a.m)

ASPI trading at 7,106.17 down 0.07-pct with losses in some index heavy stocks, brokers said. Two off the floor trades were recorded at Aitken Spence and JKH with 5 million shares traded at 95.30 rupees and 750,000 shares traded at 173.50 rupees respectively. (Sept 28, 2015 10.45 a.m)

USD/LKR ticks lower to 141.15/30, says dealer (Sept 28, 2015 10.12 a.m)

USD/LKR trading at 140.95/141.10 says dealer. (Sept 28, 2015 09.20 a.m)

Sri Lanka’s central bank held key interest rates unchanged on Friday with the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank left unchanged at 6.00 per cent and 7.50 per cent, respectively. (Sept 28, 2015 09.00 a.m)

Friday, Sept. 25 2015

ASPI closed at 7,110.80 down 0.06-pct with investors concerned over domestic economic conditions, brokers said. (Sept. 25 2015 4.00 p.m)

USD/LKR trading at 140.97/141.00 says dealer. A monetary policy announcement is due later today. The International Monetary Fund has said Sri Lanka should not cut rates, but look at tightening policy. (Sept. 25 2015 12.20 p.m)

ASPI trading at 7,109.47 down 0.08 with active trading in some finance sector stocks, brokers said. Peoples Leasing off the floor trade of 1.9 million shares at 22.80 rupees and Hatton National Bank one off the floor trade of 240,000 shares at 216.50 rupees. JKH and SLT stocks up.  (Sept. 25 2015 12.15 p.m)

Asian markets mixed with Nikkei up 0.21 percent, FTSE 100 down 1.1 percent, S&P down 0.34 percent, while Shanghai has dropped 1.76 percent today. Market eyes on Sri Lanka monetary policy announcement at 6.00 pm today. USD/LKR quoted at 140.90/141 (Sept. 25 2015 9.26 a.m)

Thursday, Sept. 24 2015

Boeing announced it will open its first plant in China and will get 38 billion dollars worth of jet orders and commitments from China as president Xi Jinping visited Boeing’s main factory. (Sept. 24 2015 10.40 a.m)

Nikkei down 2.1 percent on Thursday, Shanghai up 0.2 percent, S&P closed down 0.2 percent overnight. Brent crude at 48.06 dollars a barrel, up 0.65 percent. Sri Lanka markets are closed on Thursday for a holiday. (Sept. 24 2015 10.30 a.m)

Wednesday, Sept. 23 2015

USD/LKR closed at 140.90/95 says dealer. (Sept. 23 2015 4.40 p.m)

ASPI closed at 7,114.83 down 0.05-pct with losses in some index heavy stocks, brokers said. (Sept. 23 2015 3.30 p.m)

USD/LKR quoted at 140.93/98 says dealer.  (Sept. 23 2015 2.30 p.m)

ASPI trading at 7,133.04 up 0.21-pct with retail investors buying in JKH and the JKH warrant 22 and some banking stocks, brokers said. Poultry sector continues to make gains with all three counters hitting a fresh 52 week high. (Sept. 23 2015 10.30 a.m)

USD/LKR opening 140.90/00 says dealer. The rupee fell 0.11-pct on Tuesday to a fresh low of 141.00 per dollar due to importer demand for dollars with expectations of further depreciation, dealers said. (Sept. 23 2015 09.00 a.m)

Tuesday, Sept. 22 2015

USD/LKR closed at 140.92/98 says dealer.  (Sept. 22 2015 5.15 p.m)

ASPI closes at 7,118.38 up 0.20-pct with gains in JKH and poultry stocks, brokers said.  (Sept. 22 2015 3.15 p.m)

USD/LKR market steady, some activity seen on swaps. Dealer says unlikely that central bank will hike interest rates this week given credit and inflation situation and as it is also a political decision, however, following recommendation by IMF it is also be a possibility (Sept. 22 2015 3 .14 p.m)

ASPI trading at 7,109.62 up 0.07-pct with continued gains in poultry sector and Three Acre Farms hitting a 52 week high of 148.90 and one off the floor trade recorded with 815,000 shares traded at 142.00 rupees.  (Sept. 22 2015 12 .45 a.m)

USD/LKR quoted 140.95/98 says dealer. The rupee has fallen 4.3-pct since the central bank effectively floated it on 4 September. (Sept. 22 2015 12.20 p.m)

ASPI opens at 7,107.43 up 0.04 percent (Sept. 22 2015 09.45 a.m)

USD/LKR opening 140.80/00 says dealer. The rupee fell 0.21-pct on Monday, not far from a record low of 140.98 reached last week. (Sept. 22 2015 09.20 a.m)

Monday, Sept 21, 2015

USD/LKR closing 140.88/90 says dealer. (Sept. 21 2015 5.00 p.m)

ASPI closed at 7,104.37 down 0.05 percent with low investor activity and losses in some index heavy stocks, brokers said. Gains were seen in the poultry sector. (Sept. 21 2015 3.30 p.m)

Secondary market activity in the bond market was thin after IMF comments.  “In the past, when the IMF makes such statements, the central bank tends to do the opposite,” a dealer said. He believes an immediate tightening stance by the central bank is not likely on Friday. USD/LKR at 140.75/90 (Sept. 21 2015 2.20 p.m)

LOLC finance appoints Ashan Nissanka as chief executive, CSE (Sept. 21 2015 12.30 a.m)

ASPI trading at 7,103.44 down 0.06 percent with losses in some banks, dealers said. Gains were seen in the poultry sector, Grain Elevators trading at 91.50 rupees, Three Acre Farms at 139.40 rupees. JKH warrant 22 at 8.10 rupees, up 0.60 rupees (Sept. 21 2015 10.55 a.m)

USD/LKR quoted at 140.70/80 says dealer. (Sept. 21 2015 09.45 a.m)

USD/LKR quoted at 140.40/50 says dealer. (Sept. 21, 2015 9.07 am)

Asian markets open lower, Australia’s ASX 200 falls 2.5 percent, Hang Seng down 1.4 percent after DJIA closed down 1.7 percent on Friday following Fed’s decision to leave interest rates unchanged. Japan Nikkei closed for holiday. (Sept. 21, 2015 8.45 am)

Friday, Sept 17, 2015

USD/LKR now quoted at 140.50/60 says dealer (Sept. 18, 2015 3.50 pm)

ASPI closed at 7,107.87 down 0.08-pct with low investor activity and losses in JKH, brokers said. (Sept. 18, 2015 3.30 p.m)

Fed Chair Yellen listened to calls from the World Bank and IMF to avoid destabilizing global markets with the Fed’s first rate increase in almost a decade, although the bigger question is whether uncertainty is having a bigger impact on emerging market economies, and whether a rate increase may have helped. “This is now the most cautious, overly risk management oriented Federal Reserve in history. They aren’t done yet.  They just won’t stop easing.  The Greenspan and even the Bernanke Feds wouldn’t stop fighting inflation, and the Yellen Fed won’t stop fighting unemployment.  The domestic labor market isn’t good enough for them yet either….Fed policy is held hostage by events outside our borders.” –Chris Rupkey, Bank of Tokyo Mitsubishi told WSJ.

“The mention of ‘monitoring developments abroad’ hints at a concern with global conditions such as the Chinese stock market selloff played a significant part in the central bank holding rates….The U.S. dollar is losing ground across the board as the timing of the rate hike is being pushed back. The dollar was boosted by potential interest rate divergence and the more the Fed delays the first rate hike, the market will punish the dollar.” —Alfonso Esparza, Oanda (Sept. 18, 2015 2.25 pm)

USD/LKR now quoted at 140.50/60 says dealer (Sept. 18, 2015 12.25 pm)

ASPI trading at 7,105.75 down 0.11-pct with low investor activity and losses in JKH, brokers said. (Sept. 18, 2015 11.30 a.m)

Fed chair says: “The stance of monetary policy will likely remain highly accommodative for quite sometime after the increase of the federal funds rate,” suggesting U.S. will continue to watch growth, low inflation if it raises interest rates later this year with accommodative monetary policy. USD/LKR at 140.20/50, says dealer (Sept. 18 9.36 a.m)

Asian markets traded mixed after the US Federal Reserve kept interest rates unchanged. Nikkei 225 down 1.5-pct, Shanghai up 0.8-pct, Hang Seng up 0.4-pct, Kospi flat  (Sept 18 8.20 a.m)

Thursday, Sept 17, 2015

USD/LKR closed stronger at 140.40/50 after opening at 140.80 and hitting a high of 140.99 dealers said (Sept. 17 4.30 p.m)

USD/LKR strengthens to 140.20/40 on dollar sales by a private commercial bank, says dealer (Sept 17, 2015 3.55 p.m)

Next Sri Lanka monetary policy announcement scheduled for Friday, 25 September at 6.00 p.m, says central bank (Sept 17, 2015 3.10 p.m)

Sri Lanka Foreign Minister to hold press conference in the evening. Colombo-based analyst referring to the UNHRC call for a hybrid court says “Flawed procedures in the appointment and removal of chief justices such as the appointment of Justices Shirani Bandaranayake, Mohan Pieris and K Sripavan and the removal of Shirani Bandaranayke and Mohan Pieris and the appointment of flawed characters” among other reasons undermined UNHRC confidence in the judicial system. (Sept 17, 2015 1.55 p.m)

USD/LKR  quoted at 140.95/00 dealers said. ASPI now down 0.3 percent on 442 million turnover (Sept 17, 2015 1.00 p.m)

ASPI trading at 7,131.71 up 0.08-pct with some retail investor activity and losses continuing in the Leasing and Finance sector, brokers said. Active trading also seen in Kalamazoo Systems with the stock trading at 3,900.00 rupees, up 347.00 rupees after hitting a high of 4,440.00 rupees during morning trade (Sept 17, 2015 10.25 a.m)

USD/LKR  opened at 140.70/05 and now quoted at 140.80/05 after closing at 140.90/00 Wednesday, dealers said (Sept 17, 2015 09.05 a.m)

8.3 magnitude earthquake off Chile leads to tsunami warning in Chile, New Zealand, Hawaii (Sept 17, 2015 8.18 am)

Market eyes on Fed liftoff, or not, later tonight as US considers ending nearly seven years of zero interest rates. Decision may end emerging market uncertainty over rates. FOMC to release policy statement at 2 pm Washington time, Fed Chair Janet Yellen holds press conference at 2:30 pm. 50 percent of analysts expect a rate increase.

Nikkei up 0.7 percent, S&P up 0.87 percent, Bombay Sensex up one percent. Brent crude picks up to 49.74 USD/bbl. Among emerging markets, net importers of oil such as Hungary, Romania, Poland, the Czech Republic, Vietnam and Sri Lanka have benefited from low oil prices.  (Sept 17, 2015 8.18 am)

Wednesday, Sept 16, 2015

Repo :63.95 billion rupees; Surplus: 63.95 billion rupees. Treasury bill and bond holdings by central bank 151.7 billion rupees AWPLR 6.86 on 11.09.15 Money 6.35 6.35  W 6.35 Rep 6.45 6.30 W 6.37 3Y 1/6/18 8.45/55 4Y 1/7/19 9.10/20 5Y 1/5/20 9.53/57 6Y 1/8/21 9.65/75 7Y 1/10/22 9.98/02 8Y 1/9/23 9.95/05 10Y 1/8/25 10.25/45 11Y 1/6/26 10.55/70 (Sept 16, 2015 5.46 pm)

Dialog Axiata increases shareholding in Digital Commerce Lanka from 46-pct to 100-pct, through its subsidiary, Digital Holdings Lanka, brokers said. Digital Commerce Lanka is the operating company of e-commerce website, “ 16, 2015 5.12 pm)

ASPI closed down 15.03 points at 7,137.40 lower 0.21-pct with losses in banking and finance stocks, brokers said  (Sept 16, 2015 4.40 pm)

USD/LKR closed at 140.90/00 after hitting a high of 140.97 and low of 140.25, dealers said (Sept 16, 2015 4.30 pm)

USD/LKR now at 140.80/141 say dealer. Sri Lanka GDP growth picked up to 6.7 percent in the second quarter from 6.4 percent in the first quarter. (Sept 16, 2015 1.03 pm)

USD/LKR was quoted at 140.70/141 before state selling seen at 140.75, says dealer (Sept 16, 2015 12.36 pm)

USD/LKR quoted at 140.40/50 says dealer (Sept 16, 2015 10.35 am)

ASPI trading at 7,154.93, up 0.03 percent with activity in JKH, Nestle Lanka and Sri Lanka Telecom. The Kalamazoo Systems share price has risen 25 percent to 3,550.00 rupees, up 7,07.70 rupees. One off the floor trade was recorded in HNB non voting with 500,000 shares traded at 174.00 rupees,  brokers said.(Sept 16, 2015 10.30 am ) 

USD/LKR quoted at 140.10/40 says dealer (Sept 16, 2015 8.59 am)

US market rallied 1.2 percent (S&P index) on Tuesday despite possibility of Fed Liftoff as it begins two days of monetary policy deliberations later today. Bank of Japan held interest rates flat in monetary policy announcement although economy contracted 0.3 percent in the second quarter. Shanghai up 0.16 percent, Nikkei up 0.96 percent, Bombay sensex down 0.6 percent. (Sept 16, 2015 8.28 am)

Tuesday, Sept 15, 2015

USD/LKR closes at 140.20/30 after high of 140.25 and low of 139.95 says dealer. USD/LKR opened at 139.75/90 (Sept 15, 2015 18.40 pm)

ASPI closes at 7,152.43, down 0.14 percent with slightly higher volumes than yesterday. Carsons, Dialog Axiata and Hemas making losses,  brokers said. (Sept 15, 2015 3.30 pm) 

Five year bond yield falls to 9.58 percent from 9.65 percent at last auction (Sept 15, 2015 2.58 pm)

China’s stocks plunge 3.5 percent, down for a second day on low volumes with continued weak investor confidence over the economy. Nikkei up 0.3 percent. Brent crude at 46.41 dollars per barrel, up 0.09 percent. USD/LKR quoted at 140/140.05 (Sept 15, 2015 12.30 pm)

Mahesh Amalean, independent non-executive director of Dialog Axiata, has made a disclosure under section 200 of companies act no 7 of 2007 pertaining to the acquisition of 2.2 mn Dialog shares by MAS Capital at 11.20 rupees on 11 Sept 2015, in stock exchange filing (Sept 15, 2015 12.30 pm)

USD/LKR quoted at 139.90/140.00 says dealer (Sept 15, 2015 10.30 am)

ASPI trading at 7,174.27, up 0.17 percent with slightly higher volumes than yesterday. Poultry sector up, JKH warrant 22 up 0.50 ruppee, brokers said.  (Sept 15, 2015 9.55 a.m)

Bank of Japan will maintain its rate policy stance after two-day meeting which ends today according to most analysts (Sept 15, 2015 8.05 a.m)

Nikkei rallies 1.2 percent, Shanghai down 2.1 percent (its biggest two-day drop in three weeks) after US markets dipped with S&P down 0.41 percent overnight as markets divided on rate decision later this week. Fed should move sooner than later, says some, although dollar showing strongest rally since 1984 is one argument against rate increase (Sept 15, 2015 7.32 a.m)

Monday, Sept 14, 2015

Foreign Minister Samaraweera, speaking at the UNHRC session, says government is committed to a political settlement that addresses the grievances of the people; several steps taken in new parliament to ensure non discrimination based on ethnicity. The UNHRC high commissioner said earlier that the finding of the report on reconciliation and accountability were of a serious nature (Sept 14, 2015 3.32 p.m)

ASPI closes 7,162.44 up 0.13 percent with gains in banking sector and some high cap stocks, brokers said (Sept 14, 2015 3.20 p.m)

John Keells warrant (W0022) drops 16 percent to 9.50 rupees.  The purchase price for the warrant is 161.87 rupees per ordinary share and will cease to trade on 28 September. John Keells Holdings shares now at 174.30 rupees down 0.4 percent (Sept 14, 2015 12.48 p.m)

ASPI trading at  7,158.27 up 0.07 percent with thin volumes, brokers said. Banking sector active with gains in Commercial Bank, Hatton National Bank (Sept 14, 2015 11.05 a.m)

USD/LKR dipped to 139.95/140.10 but strengthened to 139.85/90 after state selling, says dealer (Sept 14, 2015 11.00 am)

USD/LKR quoted at 139.30/50 says dealer (Sept 14, 2015 8.52 am)

Sri Lankan markets will keep an eye on the 30th regular session of the UNHRC where the report on “Promoting reconciliation, accountability and human rights in Sri Lanka” will be presented mid this week. This government is believed to have goodwill of international community as it presents domestic mechanisms for reconciliation, accountability (Sept 14, 2015 8.15 am)

Asian markets watchful ahead of Fed meeting September 17 opening with mixed responses. Nikkei down 0.5 percent, Hang Seng up 0.72 percent, Shanghai down 0.7 percent. (Sept 14, 2015 8.10 am)

Friday, Sept 11, 2015

USD/LKR at 139.30/139.50, says dealer, with some demand coming in. Central Bank holding of treasury bills and bonds picks up to 151 billion rupees from 123 billion rupees on Thursday, after the rejection of the bill auction. Money market liquidity concurrently increases to 84 billion rupees, up from 54 billion rupees Thursday. This has put downward pressure on secondary market bond yields. 10-year bond falls from 10.50 percent to 10.30 percent, four-year bond yield drop from 9.50 percent to 9.07 percent. There is likelihood of larger auction of treasuries next week. With possibility of a Fed rate hike, “market has discounted this possibility with the recent increase in (Sri Lanka) yields,” says dealer. Emerging market central bankers have called for a rate hike sooner than later by the Fed, its first in nearly a decade. (Sept 11, 2015 5.33 pm)

Asian markets close virtualy unchanged. Brent crude falls 2.3 percent to $47.75 per barrel. Oil surplus is bigger than previously thought and $20 a barrel is a possibility, says Goldman Sachs (Sept 11, 2015 5.11 pm)

During the week, benchmark ASPI index dipped by 61.62 index points or 0.85 percent while S&P SL20 index declined by 43.56 index points or 1.10 percent. Low investor activity was witnessed during the week where average daily market turnover further declined from 604 million to 548 million  (Sept 11, 2015 5.05 pm)

John Keells Holdings announced that the company with its subsidiaries has increased its shareholdings in Rajawella Holdings Limited from 16.9 to 51 percent. Rajawella Holdings Limited possesses a land bank with development potential which complements the group’s leisure and property portfolio. The total investment is 1,044 million rupees (Sept 11, 2015 4.55 pm)

ASPI closes at 7,153.59 down 0.09 percent with a 474 million rupee turnover with losses in Commercial Bank, Dialog Axiata, Sri Lanka Telecom (Sept 11, 2015 2.45 p.m)

ASPI opens up 0.09 percent at 7,166.58 with interest in Kalamazoo Systems with the stock trading currently at a 52 week high of 1945.00 rupees (up 81.45 percent), brokers said. Interest also seen in high caps, JKH, Nestle, CTC although overall turnover low (Sept 11, 2015 10.00 am)

USD/LKR quoted at 138.95/139.05 says dealer (Sept 11, 2015 9.40 am)

Share prices in Next 11 countries, including Philippines, Turkey and Mexico, down 19 percent this year, according to MSCI’s Next 11 equity index, compared with 14 percent for the BRIC index countries. Shows foreign investment outflow from equity in these emerging economies with prospect of higher US interest rates and China slow down (Sept 11, 2015 8.19 am)

Shanghai opens up slow with US markets having fairly quiet sessions overnight considering recent volatiliy; Shanghai up 0.4 percent, S&P closed up 0.5 percent. Market eyes on Fed meeting Sept 16-17 (Sept 11, 2015 8.11 am)

Thursday, Sept 10, 2015

ASPI closes down 0.3 percent on low 588 million rupee turnover. Asian markets closed lower, Shanghai -1.3 percent, Nikkei -2.5 percent, Hang Seng -2.5 percent. Yuan lower today. Premier Li Keqiang said on Thursday the yuan will be kept stable, at a World Economic Forum meeting. The yuan slid 2.6 percent in August, the most in two decades. (Sept 10, 2015 3.10 pm)

USD/LKR now quoted at 139/139.10 says dealer (Sept 10, 2015 10.36 am)

Finance Minister says rupee will be brought to an acceptable level, echoing comments made to LBO on Friday. “We will ensure that before too long it will be brought back to an acceptable level. Floating is being done very cautiously and at this particular moment people try to speculate,” he told Reuters on Wednesday. “We will act very hard against any type of speculation. We will manage it in a way that will not be detrimental and overcome it.” Ravi Karunanayake also told LBO that he will not allow an artificial devaluation of the rupee and favored lower interest rates. Click here for LBO story (Sept 10, 2015 9.31 am)

USD/LKR opens at 138.80/139.05 says dealer (Sept 10, 2015 9.07 am)

Today Nikkei down 3.2 percent after US markets closed lower, S&P closed 1.4 percent lower. Now, Shanghai down one percent. Nikkei saws its biggest gain since 2008 of 7.7 percent yesterday on possibility market had been oversold recently. Brent crude oil dips 0.2 percent to 47.48 dollars per barrel. (Sept 10, 2015 7.47 am)

Wednesday, Sept 09, 2015

Central Bank rejected all bids at treasury bill auction indicating central bank is not interested in seeing interest rates increase. Yields drop 15 basis points in secondary market. The auction received 47,231 million rupees in bids, data showed. USD/LKR now quoted at 138.80/139. (Sept 09, 2015 3.20 pm)

Nikkei now up 7.7 percent, its biggest gain since Oct 2008. The market is bouncing back believing recent selling was overdone. Shanghai up 1.6 percent. Colombo ASPI rallies 0.52 percent on low 275 million rupee turnover. (Sept 09, 2015 11.59 am)

JKH warrant 22 trading heavily opening at 11.50 rupees and now trading at 10.70 rupees, Lanka Securities said.  (Sept 09, 2015 10.15 am)

USD/LKR Sri Lankan rupee was quoted at 138.50/80 with moderate volumes, one dealer said. (Sept 09, 2015 10.00 am)

USD/LKR opens flat at 138.25/138.50 with no trades yet. “It was a good decision to float the rupee on Friday. It should settle around these levels,” says one senior dealer.  (Sept 09, 2015 8.50 am)

US and European markets rally on optimism China will be able to stabilize its markets. Nikkei’s 5.7 percent gain today its biggest since 2011. Shanghai rose 2.9 percent Tuesday, Hang Seng up 1.7 percent, FTSE up 1.1 percent, S&P 500 rose 2.5 percent, Nasdaq rose 2.7 percent. Australia dollar strengthened, Malaysia ringgit gains 0.8 percent. Bonds from Japan to New Zealand fell with less demand for safe haven assets. The futures market  expects more gains in Chinese stocks. Contracts on FTSE China A50 Index up 0.5 percent and CSI 300 Index gaining 4.9 percent last session. Market eyes on next Fed meeting Sept 16-17, with some analysts saying more volatility possible ahead of it. (Sept 09, 2015 7.19 am)

Tuesday, Sept 08, 2015

USD/LKR closes at 138.25/138.35. Further outflow of funds seen from government securities today, says dealer.  Money market has 60 billion rupees in surplus with central bank injecting liquidity through increased holding of government securities, partly due to difficulty in getting the right rate at bond auctions. Central Bank holding of bills and bonds 123.8 billion rupees on Tuesday. (Sept 08, 2015 4.50 pm)

5-year bond yield picks up to 9.65 percent at auction from 9.35 percent at last auction on August 31. Yields pick up 7-10 basis points in secondary market. USD/LKR quoted at 138.30/138.50 says dealer (Sept 08, 2015 2.47 pm).

ASPI down 0.35 percent, JKH.N down 1.1 percent to 175.20. Market turnover at low 371 million for a second day. Dialog, JKH warrants, TJL actively traded (Sept 08, 2015 2.24 pm)

John Keells Holdings warrant (JKH.W0022) price down 2.90 rupees, or 18.7 percent, to 12.60 rupees. Keells said exercising of 2015 warrants of company will commence from 29 September till the expiration date of 12 November 2015. The purchase price for the warrant is 161.87 rupees per ordinary share. The 2015 warrants of the company will cease to trade on 28 September and are exercisable during the exercise period, Keells said in an announcement Monday. Analyst says warrants normally trade with a time value premium. Impending exercise of warrant to raise funds for JKH will suck out eight billion rupees in liquidity. There may be margin call issues for holders of the warrant. JKH.N share price at 176.90 rupees. (Sept 08, 2015 12.42 pm)

USD/LKR now quoted at 138.20/30 says dealer. (Sept 08, 2015 12.14 pm)

John Keells Holdings share down 0.28 percent to 176.80 rupees. Price down from 250 at the beginning of the year is an attractive buy, said analyst. Keells says exercising of 2015 warrants of company will commence from 29 September till the expiration date of 12 November 2015. The purchase price of a warrant is 161.87 rupees per ordinary share. (Sept 08, 2015 12.12 pm)

USD/LKR holds steady at 137.70/138 from Mondays levels in thin trade, dealers say. (Sept 08, 2015 10.15 am)

Shanghai stocks open down 1.3 percent following S&P drop of 1.5 percent and NASDAQ down one percent. China’s government has spent $236 billion trying to support its stock market over the last few months, according to Goldman Sachs. ASPI up 0.07 percent in thin turnover of 40 million rupees. (Sept 08, 2015 9.48 am)

Central Bank holding of government securities was 123.88 billion rupees on Monday, from 123.81 billion rupees on Friday, according to data released. This is up from 69 billion rupee level seen on August 13, which is effectively the printing of money to keep a lid on interest rates, analysts say.  (Sept 08, 2015 9.44 am)

USD/LKR opens unchanged at 137.70/90 from Mondays levels after central bank allowed the currency to float more freely on Friday.  (Sept 08, 2015 9.40 am)