Category: Markets
Opportunities for value investors, rate hikes limited: JB Securities
June 22, 2016 (LBO) – Sri Lanka’s equity market offers opportunities for value investors as market multiples have contracted, JB Securities says in their latest research report. Although the economy is forecast to grow 4.5 percent in 2016, compared with 4.8 percent last year, further increases in interest rates are likely limited to 25 basis […]
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; stocks slip
June 22 (Reuters) – Sri Lankan rupee one-week forwards fell on Wednesday on importer dollar demand amid low liquidity for the U.S. currency after Moody’s revised down its outlook on the island nation’s sovereign rating, dealers said. The local currency was also under pressure due to lack of exporter conversions, while moral suasion by […]
Sri Lanka’s debt higher than B, BB rated countries, Fitch data shows
June 21, 2016 (LBO) – Sri Lanka’s current debt levels are higher than its ‘B’ median peers or the previously rated ‘BB’ median, data from the ratings agency Fitch shows. Sri Lanka’s external funding requirement too is high compared to peers, although it performs better in certain governance metrics and HDI indices. Supporting the rating, […]
Asia shares pause, sterling stands tall as Brexit vote looms
June 21 (Reuters) – Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum. Two of the latest polls released over the weekend showed the “Remain” camp in the […]
Sri Lankan rupee 1-wk forwards weaker on importer dlr demand
June 20 (Reuters) – Sri Lankan rupee one-week forwards traded weaker on Monday due to importer dollar demand while dealers said the rupee was under pressure due to lack of exporter dollar conversions amid moral suasion by the central bank . One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee […]
Asia stocks gain as Brexit fears ebb slightly, pound surges
June 20 (Reuters) – Asian stocks gained early on Monday as rising expectations of Britain voting to remain in the European Union lifted risk sentiment and the pound jumped against its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent. Japan’s Nikkei climbed 1.5 percent, helped by a retreat in the recently […]
Asian shares face weekly losses, sterling rebounds in Brexit turmoil
TOKYO, June 17 (Reuters) – Asian shares rose on Friday, but remained on track for weekly losses in a week dominated by fears that British voters will opt to leave the European Union in next week’s referendum. Campaigning for the upcoming vote, which overshadowed this week’s central bank meetings, was temporarily halted after a […]
Sri Lanka CDS to introduce electronic voting and IPO facility this year
June 16, 2016 (LBO) – Sri Lanka’s Central Depository Systems is looking forward to introduce a fully-fledged electronic IPO and voting system during this year. During an interview, Head of CDS, Nalin Fonseka said the E-IPO system will facilitate inward and outward payments from investors efficiently and will offer other benefits such as facilitation of […]
Global treasuries plunge on Brexit, safe haven demand
June 16, 2016 (LBO) – The prospect of Britain leaving the European Union is boosting demand for safe haven assets, with bond yields falling to new lows, as the Fed suggests that low yields could be a more longer term phenomenon. Benchmark 10-year yields are plunging across the globe. Japan fell to minus 0.21 percent. […]
Sri Lanka promises to reform Airline, public sector, fuel pricing to IMF
June 15, 2016 (LBO) – Sri Lanka has committed to reforming government finances and the public sector, in its letter of intent to the International Monetary Fund. Structural benchmarks include a “resolution strategy” for SriLankan Airlines by September 2016, in which it will take the loss-making airline off its books. Other reforms include enhancing oversight […]
‘s yuan hits weakest in more than 5 yrs after PBOC fix, MSCI disappointment
SHANGHAI, June 15 (Reuters) – China’s yuan slumped to its weakest level in more than five years against the dollar at Wednesday’s open, after the central bank set its official midpoint at its lowest level since January 2011. The yuan hit an intraday low of 6.6047 per dollar in early trade against Tuesday’s close of […]
Oil futures fall as global growth, Brexit concerns weigh
TOKYO, June 14 (Reuters) – Crude oil futures fell in Asian trade on Tuesday, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain’s possible European Union exit. Brent crude oil futures slipped below $50 a barrel, falling 50 […]