Category: Markets
Sri Lankan rupee edges down on capital outflow fears
Nov 18, 2016 (Reuters) – The Sri Lankan rupee fell on Friday on persistent worries of capital outflows as incoming President Donald Trump’s policies are seen aiding higher U.S. interest rates and a strong dollar. Rupee forwards were active, with the spot-next trading at 148.70/95 per dollar, compared with Thursday’s close of 148.65/75. “The rupee […]
Dollar soars on U.S. yield gains,Asian shares wobbly
TOKYO, Nov 18 (Reuters) – The dollar vaulted to 13 1/2-year highs against a basket of major currencies as U.S. bond yields rose, leaving Asian stocks vulnerable to potential rotation out of emerging markets to the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent in early trade to hover […]
SEC eases minimum public float rule; 6-month grace period to comply
Nov 17, 2016 (LBO) – Sri Lanka’s securities regulator has decided to revise the minimum public float requirements to provide listed public companies with a wider range of options to comply with the rules without compromising the objective of the rule. A grace period of 6 months extending up to 30 June 2017 will be […]
Dollar edges away from 13-year peak, Asian stocks slip
TOKYO, Nov 17 (Reuters) – The dollar edged away from a 13-year peak on Thursday, following an easing of the week-long surge in Treasury yields that was fuelled by hopes for the Trump administration’s economic policies, and Asian stocks slipped on Wall Street’s overnight dip. The dollar index, which measures the greenback’s strength against […]
Sri Lankan rupee falls on capital outflow fears; stocks weaker
Nov 16, 2016 (Reuters) – The Sri Lankan rupee was marginally weaker on Wednesday on fears that higher interest rates in the U.S. under incoming President Donald Trump would spark capital outflows from the domestic market. Expectations that Trump’s administration will cut taxes, increase spending and accelerate inflation have lifted the dollar and driven bond […]
Asia shares win reprieve as bond rout pauses for now
TOKYO, Nov 16 (Reuters) – MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day. Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the […]
Asia stocks under pressure as dollar hovers near 14-year high
HONG KONG, Nov 15 (Reuters) – The U.S. dollar hovered near on a 14-year high on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump’s presidency. The combination of the two have derailed Asian currencies and equities, […]
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 […]