Sri Lankan shares end lower as financials weigh

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 17 (Reuters) - Sri Lankan shares snapped three sessions of gains on Monday, dragged down by losses in financials.


* The CSE All Share index fell 0.10% to 9,405.90.
* The stock market was closed on Thursday and Friday for holidays.
* A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding more than $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter.
** Whether China could join a Japan-initiated common platform to coordinate restructuring of Sri Lanka's debt, People's Bank of China Governor Yi Gang said on Saturday, "If we can cooperate, if we can equally and fairly share the burden, I think we can solve the problem."
* The Paris Club of creditor governments aims to start negotiations to restructure Sri Lanka's debt, the group said on Friday.
* Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka's debt, a move they hope would serve as a model for solving the debt woes of middle-income economies.
* Conglomerate John Keells Holdings Plc and Shalimar (Malay) Plc were the top drags on the CSE All Share index, down 1.6% and 20.3%, respectively, according to Refinitiv data.
* Trading volume for the CSE All Share index rose to 46.1 million shares from 40.8 million in the previous session.
* The equity market's turnover rose to 1.29 billion Sri Lankan rupees ($4.04 million) from 947.5 million rupees in the previous session, according to exchange data.
* Foreign investors were net buyers in the equity market, purchasing stocks worth 220.2 million rupees, while domestic investors were net sellers, offloading stocks worth 1.15 billion rupees, the data showed.
* For a report on global markets, click ($1 = 319.0000 Sri Lankan rupees) (Reporting by Meenakshi Maidas in Bengaluru; Editing by Shilpi Majumdar)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.