Another down week at the CSE; Foreign selling continues

July 7, 2018 (LBO) - Sri Lanka stocks finished the week lower.  Socks hit 2018 lows on Wednesday before bouncing on Thursday and Friday. The ASPI was down 1.4% for the week, while the S&P SL20 was down 1.9%. Total market turnover was similar to the previous week at Rs2.9bn (US$18mn). Year to date for 2018, the ASPI is down 4% while the S&P SL20 is down 9.5%. The trend of foreign selling continued with net foreign sales of Rs900mn (US$5.7mn). For the year 2018 foreigners have been net sellers of Rs2.2bn (US$14mn) worth of stocks and Rs30bn (US$189mn) worth of bonds which has put some pressure on the Sri Lanka Rupee.