q q Today's Turnover (LKR mn) Annual Av erage Daily Turnover (LKR mn) Volume (mn) Annual Av erage Daily Volume (mn) Market Capitalization (LKR bn) Net Foreign Inflow / (Outflow) [LKR mn]- Foreign Buying (LKR mn) - Foreign Selling (LKR mn) YTD Net Foreign Inflow / (Outflow) [LKR bn]Wednesday, February 12, 2014 832.7% Change Point Change Today 68.6 548.6 -0.47 % -0.37 % 2,540.0- 28.67- 12.39 6,084.483,336.96 ASPIYTD Performance S&P SL 20 IndexASPIS&P SL 20 Index2.9% 2.2% 41.0-10.6 -3.2 172.2 182.8Level 23, East Tower, World Trade Centre, Colombo 01Tel: +94 11 727 7000,Fax: +94 11 727 7099 Email: research@equity.softlogic.lkCSE Diary for 12.02.2014 Selling pressure mount: The benchmark index recorded a downward trend during the morning session while a partial recovery was experienced during the afternoon session. The benchmark index had a dip of 29 points at the close of day with Ceylon Tobaccoand Commercial Leasingweighting negatively on the index. The S&P SL20 played a similar role recording a dip of 12 points. Crossings in AAF and DIST: Asia Asset Finance recorded a crossing of 50mn shares at LKR1.90 while on-board trading on the counter was very low. A further 4 crossings were recorded in Distilleriesaccounting for 423k shares being dealt at LKR216.0. The counter as active on-board it registered a 52- week high price of LKR218.0.Heavy caps lead on-board trading: John Keells Holdings Warrants 0023 saw 1.4mn shares of volume changing hands as it closed the day at LKR65.0 with a dip of 0.2%. However a gain in John Keells Holdingswas noted with considerable buying interest as the counter closed at LKR225.3 (+0.2%). Banking sector heavy weight Commercial Bank and Telecom heavy weight Dialog managed to enter the top turnover slots as well as both counters experienced some selling pressure leading to dips in price.Retail interest continues to remain low: Retail activity was noted to be low amidst the selling pressure in the market. However some interest was noted to be in Blue Diamondsand Expolanka Holdings .Bourse drop below 6,100…
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Sri Lanka’s plan to bring about financial sector consolidation is a strong statement of intent of raising systemic stability and
boosting long-term economic development, says Fitch Ratings. If effective, the rating agency says the “Master Plan for the
Consolidation of the Financial Sector” should improve the credit profile of financial institutions, strengthen franchises, and
reduce supervisory burden.
China Trade Growth Defies Signs of Slowdown
China’s export and import growth unexpectedly accelerated in January, defying signs the world’s second-largest economy
will slow while fueling speculation that fake shipments are resurfacing. Overseas shipments rose 10.6 percent from a year
earlier, the General Administration of Customs said today in Beijing, a pace that may be distorted by false invoices and
holidays and compares with the median projection of economists for a 0.1 percent gain. Imports (CNFRIMPY) advanced 10
percent, leaving a trade surplus of $31.9 billion, the widest for January since 2009.
Japan Core Machinery Orders Fall Most Since ’98 in Abe Challenge
Japan’s core machine orders fell in December the most since 1998, signaling business investment growth could slow in
coming months and weigh on a recovery in the world’s third-biggest economy. Core orders fell 15.7 percent from the
previous month, the Cabinet Office said in Tokyo today, compared with the median estimate of a 4 percent decline in a
Bloomberg survey of 31 economists. The fall partly reflected a pullback from a gain in November, when there was a big
order that exceeded 10 billion yen ($97.6 million), according to the Cabinet Office.
[Source: www.lbo.lk]
[Source: www.lbo.lk]
[Source: www.ft.lk]
[Source: www.news360.lk]
[Source: www.bloomberg.com]
[Source: www.bloomberg.com]
BRAC Lanka Finance rating upgraded: RAM
RAM Ratings Lanka said it had upgraded a 'BB-' rating of BRAC Lanka Finance Plc (formerly Nanda Investments, by two levels
to 'BB+' following an ownership change. The rating has a stable outlook. Bangladesh-based BRAC bought into the firm and
RAM said support was expected from the parent. The company's gross non performingloans had risen from 6.45 percent inSeptember 2013 from 4.86 percent in March.
Sri Lanka foreign reserves at US$7.2bn in 2013
Sri Lanka's foreign reserves rose 4.6 percent to 7,200 million in December 2013 from a year earlier, despite payments to the
International Monetary Fund and losses on gold holdings, official data showed. In 2013 Sri Lanka recorded an estimated 991
million US dollar 'balance of payments surplus', according to Central Bank estimates, which is a broad measure of the
difference between external payments (outflows) and receipts (inflows) of a country within a period.
Fertiliser shortage crippling plantation industry warns PA
The Planter’s Association of Ceylon (PA) yesterday warned of an acute shortage of fertiliser which will have a detrimental
effect on the plantation industry. The PA whose mandate is to promote, foster and protect the plantation industry of Sri
Lanka has sounded the alarm and appealed to all stakeholders to come together to resolve the fertiliser crisis. Fertiliser
subsidies are provided by the Government for paddy and plantation crops (tea, rubber, and coconut). Importation and
distribution of fertiliser is carried out by different institutions.
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