Category: Markets
Sri Lanka foreign reserves drop by USD395mn in Oct: Central Bank
Nov 11, 2016 (LBO) – Sri Lanka’s official reserves dropped 394.6 million US dollars to 6.1 billion dollars in October, down from 6.5 billion dollars at the end of September, official Central Bank data showed. Foreign currency reserves were 5.1 billion US dollars and reserves in Gold were 0.91 billion US dollars. Central Bank has […]
Sri Lanka to introduce new law protecting foreign reserves
Nov 11, 2016 (LBO) – Sri Lanka has proposed to introduce a new Foreign Exchange Act to protect foreign reserves from irregular transactions. Finance Minister Ravi Karunanayake told Parliament yesterday that the current Exchange Control Act will be repealed for this purpose. An Investment Inflow Management Act will be introduced to facilitate the inward remittance […]
Sri Lankan rupee weaker as regional currencies drop
Nov 11, 2016 (Reuters) – The Sri Lankan rupee edged down on Friday, in line with a selloff in emerging market currencies, as investors feared higher U.S. interest rates under incoming President Donald Trump will spark capital outflows from those markets. The weakness in the rupee followed Sri Lanka’s budget proposals on Thursday to revise […]
Asian shares dip, soaring US bond yields rattle emerging markets
TOKYO, Nov 11 (Reuters) – Asian shares dipped while the dollar strengthened broadly on Friday as U.S. bond yields soared on expectations U.S. President-elect Donald Trump’s policies would stoke inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent, with Korean shares off 0.5 percent. Australian shares eked out small gains of 0.1 […]
U.S. markets rally after fears over Trump
Nov 10, 2016 (LBO) – US share markets rose on Wednesday shrugging off concerns that a Donald Trump presidential victory was bad for Wall Street. The Dow Jones rallied 1.4 percent, S&P 500 1.1 percent and Nasdaq rose 1.1 percent, after the pre-open futures market initially forecast a sell-off of as much as 4 percent […]
Dollar spooked in Asia as US polls too close to call
SYDNEY, Nov 9 (Reuters) – Asian markets were on tenterhooks on Wednesday as early state exit polls in the U.S. presidential election showed wins for both candidates and no clear trend as yet, causing a nervous shift back to safe haven assets. Asian stocks and U.S. stock futures edged 0.5 percent higher in volatile trade, […]
Sri Lankan rupee firmer on exporter dollar sales; stocks down
COLOMBO, Nov 8 (Reuters) – The Sri Lankan rupee edged up on Tuesday as dollar selling by exporters outpaced demand for the greenback from importers, dealers said. Rupee forwards were active with one-week forwards trading at 148.15/25 per dollar at 0610 GMT, compared with Monday’s close of 148.20/30. “Overall, trading was dull. We expect the […]
GAAM: Net inflow of Rs534 mln for the week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/11/Weekly-Report-GAAM-05-11-16.pdf” title=”weekly-report-gaam-05-11-16″]
‘s chances
SINGAPORE, Nov 8 (Reuters) – Asian shares rose in early Asian trade on Tuesday ahead of the U.S. presidential election, with investor sentiment buoyed by improving prospects for Democrat Hillary Clinton to win. The Mexican peso, which has moved in opposite step to perceived chances of Republican Donald Trump winning the election, retained its strong […]
Sri Lankan rupee firmer on exporter dlr sales; stocks edge lower
Nov 04, 2016 (Reuters) – The Sri Lankan rupee edged up on Friday as dollar selling by exporters surpassed the demand for the greenback from importers, dealers said. Rupee forwards were active, with one-week forwards trading at 148.30/40 per dollar at 0604 GMT, compared with Thursday’s close of 148.80/90. “Exporter conversions are exceeding the importer […]
Asian shares slip, dollar nurses losses as US election looms
TOKYO, Nov 4 (Reuters) – Asian shares slipped on Friday and the dollar nursed losses in a week marked by growing uncertainty about the outcome of the U.S. presidential election. Investors have been unnerved in recent days by signs that the U.S. presidential race between Democrat Hillary Clinton and Republican Donald Trump was tightening just […]
Sri Lankan rupee falls on importer dollar demand; stocks firm
Nov 03, 2016 (Reuters) – The Sri Lankan rupee traded lower on Thursday on dollar demand from importers and as foreign investors sold government securities, dealers said, with the market shrugging off comments by the central bank chief on the stability of the currency. Central Bank of Sri Lanka Governor Indrajit Coomaraswamy said late on […]