Category: Markets
Sri Lanka wants to maintain rates at current levels: CB Governor
Feb 25, 2016 (LBO) – Sri Lanka’s central bank governor hopes interest rates can be maintained at current levels, after a 50 basis point rate hike last week, but this will be determined by external factors, he said. The island’s policy rates are at 6.5 percent and 8 percent, while 10-year treasury bond yields have […]
SEC reconsiders minimum public float rule: CSE
Feb 25, 2016 (LBO) – Sri Lanka’s securities regulator is reconsidering the minimum public float rule as the intention of introducing such rule was not met, a senior official at the CSE said. Chief Executive Officer at the Colombo Stock Exchange Rajeeva Bandaranaike said the intention of introducing the minimum holding rule was to encourage […]
Emerging markets offer long-term opportunity: Research Affiliates
Feb 25, 2016 (LBO) – Christopher Brightman, Research Affiliates’ Chief Investment Officer, says the exodus from emerging markets offers wonderful opportunity for opportunistic investors. Brightman shares market insights for global investment management firm PIMCO’s All Asset funds. PIMCO has 1.4 trillion dollars in assets under management, and their market insights can be read here. Q: […]
Sri Lanka stocks down 0.2-pct
Feb 24, 2016 (LBO) – Sri Lankan stocks closed down at 0.18 percent with losses in some banking and finance sector stocks with low retail investor activity, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.35 points down at 6,217.64 down 0.18 percent. The S&P SL20 closed 0.91 points down at 3,260.80 […]
Sri Lanka stocks up 0.7-pct
Feb 19, 2016 (LBO) – Sri Lankan stocks closed up at 0.67 percent with gains in most of the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 41.89 points up at 6,250.89 up 0.67 percent. The S&P SL20 closed 28.45 points up at 3,269.24 up 0.88 percent. Turnover […]
‘s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said. “The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their […]
Crowdfunding platform Crowdisland.lk launched for Sri Lankan start ups
Feb 18, 2016 (LBO) – Sri Lankan start ups will be able to utilize a new crowdfunding platform, crowdisland.lk, launched on Wednesday with the backing of an experienced group of investors famiiiar with Sri Lankan companies, its founders said. Crowdfunding is the process of raising money to fund a project or business venture through many […]
Sri Lanka stocks close down 0.5-pct
Feb 17, 2016 – Sri Lanka’s stocks closed down at 0.53 percent with low investor activity due to economic and policy uncertainty, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 33.34 points down at 6,220.82 down 0.53 percent. The S&P SL20 closed 0.43 points down at 3,242.31 down 14.00 percent. Turnover was […]
Norges Bank increases shareholding in Dialog Axiata
Feb 17, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 63.7 million shares as of end December, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the sixth biggest shareholder in telecommunications company Dialog with a 0.8 […]
Sri Lanka stocks close down 0.2-pct
Feb 16, 2016 – Sri Lanka’s stocks closed down at 0.19 percent with low investor activity and losses in Dialog Axaita and Hayleys, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 12.01 points down at 6,254.16 down 0.19 percent. The S&P SL20 closed 0.37 points down at 3,256.31 down 0.01 percent. Turnover […]
New capital adequacy requirements for stockbrokers: CSE
Feb 16, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is in the process of implementing a Risk-based Capital Adequacy Requirement (CAR) for stockbroker firms replacing the minimum net capital requirement of 35 million rupees, pending approval of the SEC, a statement said. “The Risk-based Capital Adequacy Requirement would replace the minimum Net Capital […]
Global stocks rebound, eyes on Saudi, Russia Oil meeting
Feb 16, 2016 (LBO) – Global stocks rebounded on chances equity markets have been oversold with China opening up two percent after Japan’s seven percent surge on Monday. Negative interest rates in Japan pushed Japan’s government pension fund to consider making higher allocations to its equity market, as Mark Mobius said China’s irrational market now […]