Category: Markets
First Capital increases equity exposure as global funds reversing towards Asia
Dec 28, 2018 (LBO) – First Capital Research has upgraded its equity exposure to 60 percent with the belief that the events that have unfolded globally may benefit Sri Lanka and the equity market over the next few months positively impacting earnings and possibly leading to net foreign inflows. Over the last 3 months, they […]
Net outflows from securities market & CSE surpasses USD200mn in October
Dec 21, 2018 (LBO) – Sri Lanka’s Central Bank says the trend of foreign investment outflows from the financial account continued during October, with notable outflows from the Colombo Stock Exchange and the government securities market.Government securities market recorded a net outflow of 172 million dollars in the month of October while foreign investments in […]
CSE announces changes in S&P SL20 with year-end index rebalance
Dec 21, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 year-end index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 24 December 2018 (after the market close of 21 […]
LSEG Technology implements settlement solution for Singapore Exchange
Dec 20, 2018 (LBO) – LSEG Technology has successfully implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX). In live operation from 10 December 2018, this was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors. Built upon the same technical and hardware framework as the Clearing (Central Counterpart) […]
Active trading in shares of John Keells Holdings (JKH)
December 20, 2018 (LBO) – Trading at the Colombo Stock Exchange (CSE) picked up with active trading in bellwether stock John Keells Holdings (JKH).JKH traded close to Rs2bn (US$11mn) worth of shares as trading neared the close for the day. The amount of shares traded today is close to 1% of the total outstanding shares […]
China Securities Depository and Clearing Corporation and CDS Sri Lanka commits to corporation
Dec 18, 2018 (LBO) – Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository. This commitment was formalized with the signing of a MoU between the two depositories during a visit by CSDC […]
‘s macro economic conditions stable, Fiscal discipline required: CB Gov
Dec 06, 2018 (LBO) – Central Bank Governor Dr. Indrajit Coomaraswamy says that the islands debt situation is manageable and that no major destruction to the on- going economy development activities are foreseen, even though international rating agencies have downgraded Sri Lanka. “We are not going to crash, it can be managed through maintaining financial discipline,” […]
Sri Lanka rupee hits new low of Rs.180: Stocks down 0.34-pct
Nov 23, 2018 (LBO) – The Sri Lanka rupee dropped to a low of 180.66 against the US dollar following a political crisis, which began a month earlier in the island. The rupee was quoted at around 178.70/179.30 rupees on Friday, down from Wednesday’s closing of 178.40/70. The political crisis which began when president Maithripala Sirisena […]
‘s political crisis puts IMF loan negotiations on hold
Nov 21, 2018 (LBO) – The International Monetary Fund (IMF) loan facility to Sri Lanka, approved in mid-2016, has been put on hold due to the islands prevailing political crisis, a foreign media report said. I The IMF approved the loan facility on the condition of comprehensive economic reforms. Speaking to media two weeks before the […]
‘s downgrades Sri Lanka ratings to B2 amid political crisis
Nov 20, 2018 (LBO) – Moody’s Investors Service has downgraded the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings to B2 from B1 and changed the outlook to stable from negative. The decision to downgrade the rating to B2 is driven by Moody’s view that ongoing tightening in external and domestic financing conditions and […]
Sri Lanka growth expected to recover to 4 – 4.5-pct in 2019: CB Gov
Nov 15, 2018 (LBO) – There are some positive signs with FDI and exports probably going to be record numbers this year and we envisage Sri Lanka’s growth to be somewhere between 4 -4.5 percent for 2019, the Central Bank Governor said. Growth is expected to remain below envisaged levels in 2018. As per the […]
Sri Lanka CB Chief confident of meeting debt repayment targets in 2019
Nov 14, 2018 (LBO) – Political uncertainty will not have an impact on Sri Lanka’s debt repayment preparations for 2019, the Central Bank Governor said. “Despite the uncertainty we have been operating with business as usual, ” Dr. Indrajit Coomaraswamy, Governor, Central Bank told reporters in Colombo, Wednesday. “CB is ready to cover the January 15th […]