Sri Lanka rupee gains 1.5 pct on week; stocks steady

Reuters: ** The Sri Lankan rupee closed 0.4 percent stronger on Friday as dollar inflows from inward remittances ahead of the traditional new year celebrations helped bolster the local currency, market sources said, while stocks ended firmer. 

** The currency extended gains into a fourth session to end firmer at 175.35/50 to the dollar, up from Thursday’s close of 176.10/25. 

** The island nation’s currency gained 1.5 percent for the week. 

** The rupee has climbed 4.1 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers expect pressure on the currency to ease with more inward remittances ahead of the traditional Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.02 percent higher at 5,557.24 on Friday, moving further away from their lowest since Dec. 18, 2012, hit earlier this week. 

** The benchmark stock index rose 0.31 percent for the week, recording its first weekly gain in eight weeks. The index has declined 8.2 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 326.6 million rupees ($1.86 million), less than this year’s daily average of 650.9 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 101.3 million rupees worth of shares on Friday, but they have been net sellers of 6.1 billion rupees worth of equities so far this year. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit. 

($1 = 175.3500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee extends gains; stocks rebound from 6-year low

Reuters: ** The Sri Lankan rupee closed stronger on Thursday due to dollar inflows from inward remittances ahead of the traditional new year celebrations, market sources said, while stocks snapped an eight-session losing streak to end higher. 

** The currency extended gains into a third session to end firmer at 176.10/25 to the dollar, up from Wednesday’s close of 176.20/40. 

** The rupee has climbed 1.1 percent so far this week and 3.7 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers expect pressure on the currency to ease with more inward remittances ahead of the traditional Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The island nation is struggling to repay its foreign loans, with a record $5.9 billion due this year, including $2.6 billion in the first three months. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.81 percent firmer at 5,556.28 on Thursday, edging up from their lowest since Dec. 18, 2012, hit in the previous session. 

** The benchmark stock index slipped 1.36 percent last week, recording its seventh consecutive weekly drop. The index has declined 8.2 percent so far this year. 

** The market awaits for some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 457.8 million rupees ($2.60 million), less than this year’s daily average of 656.6 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 46.8 million rupees worth of shares on Thursday, extending the year-to-date foreign outflows to 6.21 billion rupees worth of equities so far this year. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.

($1 = 176.1000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee firmer on dollar sales; stocks steady

Reuters: ** The Sri Lankan rupee ended stronger on Wednesday on banks’ dollar sales from inward remittances ahead of the traditional new year celebrations, market sources said. 

** The currency ended 0.6 percent firmer at 176.20/40 to the dollar, up from Tuesday’s close of 177.40/60. 

** The rupee has climbed 1 percent so far this week and 3.63 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers expect pressure on the currency to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The island nation is struggling to repay its foreign loans, with a record $5.9 billion due this year, including $2.6 billion in the first three months. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended down 0.03 percent at 5,511.77 on Wednesday, their lowest since Dec. 18, 2012. Shares ended weaker for an eighth straight session, dragged down by large-cap stocks. 

** The benchmark stock index slipped 1.36 percent last week, recording its seventh consecutive weekly drop. The index has declined 8.93 percent so far this year. 

** The market awaits for some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 165 million rupees ($937,233.74), its lowest since Feb. 14 and well below this year’s daily average of 660.2 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 58.8 million rupees worth of shares on Wednesday, extending the year-to-date foreign outflows to 6.2 billion rupees worth of equities so far this year. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit. 

** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

($1 = 176.0500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka shares end in the red as telcos weigh; rupee firmer

Reuters: ** Sri Lankan shares closed at their lowest in more than six years on Tuesday, ending weaker for a seventh straight session, dragged down by telecommunication and banking stocks. 

** The market awaits for some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** The Colombo Stock Exchange index ended down 0.29 percent at 5,513.67, its lowest close since Dec. 19, 2012. 

** The benchmark stock index slipped 1.36 percent last week, recording its seventh consecutive weekly drop. The index has declined 8.64 percent so far this year. 

** Turnover was 311.5 million rupees ($1.76 million), less than half of this year’s daily average of 669.2 million rupees. Last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 36.6 million rupees worth of shares on Tuesday, extending the year-to-date foreign outflow to 6.1 billion rupees worth of equities so far this year. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit. 

** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The rupee ended firmer at 177.40/60 to the dollar on greenback selling by some banks on behalf of inward remittances and exporter conversions. It had closed at 178.10/20 on Monday. 

** The rupee has climbed 2.93 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis resulted in a series of credit-rating downgrades, which dented sentiment as the country struggled to repay its foreign loans. 

** Sri Lanka is struggling to repay its foreign loans, with a record $5.9 billion due this year, including $2.6 billion in the first three months. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed.

($1 = 177.2500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka shares extend losses; rupee weakens

Reuters: ** Sri Lankan shares ended lower for a sixth straight session on Monday, posting their lowest close in more than six years, dragged down by diversified shares such as conglomerate John Keells Holdings Plc. 

** The market awaits cues from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** The Colombo Stock Exchange index ended down 0.19 percent to 5,529.67, its lowest close since Dec. 24, 2012. 

** The benchmark stock index dropped 1.36 percent last week, recording its seventh straight weekly drop. The index has declined 8.64 percent so far this year. 

** Turnover was 268.4 million rupees ($1.51 million), well below last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 53.8 million rupees worth of shares on Monday, extending the year-to-date foreign outflow to 6.1 billion rupees worth of equities so far this year. 

** The government aims to increase spending by 13 percent in 2019, during which the elections must be held, while it has set an ambitious goal to reduce a large fiscal deficit. ** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The rupee ended slightly weaker at 178.10/20 to the dollar on greenback demand by some banks. It had closed at 178.00/10 on Friday. 

** The rupee has climbed 2.53 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis resulted in a series of credit-rating downgrades, which dented investor sentiment as the country struggled to repay its foreign loans. 

** Sri Lanka is struggling to repay its foreign loans, with a record $5.9 billion due this year, including $2.6 billion in the first three months. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

($1 = 178.0500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka shares fall for 5th session; rupee slightly weaker

Reuters: ** Sri Lankan shares fell for the fifth straight session on Friday and posted their lowest close in more than six years, dragged by telecom stocks, but foreign investors’ buying capped the decline. 

** The market now awaits cues from the third and final vote on the 2019 budget, market sources said. 

** The Colombo Stock Exchange index fell 0.56 percent to 5,540.05, its lowest close since Dec. 24, 2012. 

** The benchmark stock index fell 1.36 percent for the week, its seventh straight weekly drop. It has declined 8.46 percent so far this year. 

** Turnover was 522.7 million rupees ($2.94 million), less than last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 141.7 million rupees worth of shares on Friday, but they have been net sellers of 6 billion rupees worth of equities so far this year. 

** Parliament last week passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce a large fiscal deficit. The final vote is scheduled for April 5. 

** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The rupee ended slightly weaker at 178.00/10 to the dollar on greenback demand by some banks. It had closed at 177.90/178.10 on Thursday. 

** The rupee has climbed 2.58 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 1.16 billion rupees worth of government securities in the week ended March 13, the second net inflow in four weeks, but they have sold a net 1.7 billion rupees this year, the latest central bank data showed. 

($1 = 178.0000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka shares fall for 4th session; rupee ends firmer

Reuters: ** Sri Lanka’s share index fell for a fourth straight session on Thursday to a more than 6-year closing low as investors exited the island nation’s risky assets, while they awaited cues from the third and final vote on the 2019 budget, market sources said. 

** The Colombo Stock Exchange index fell 0.36 percent to 5,571.30, hovering near its lowest close since Dec. 26, 2012. 

** The benchmark stock index fell 1.85 percent last week, recording its sixth straight weekly drop. It has declined 7.95 percent so far this year. 

** Turnover was 844.3 million rupees ($4.74 million), more than last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 1.7 million rupees worth of shares on Thursday but they have been net sellers of 6.15 billion rupees worth of equities so far this year. 

** Parliament last week passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce a large fiscal deficit. The final vote is scheduled for April 5. 

** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The rupee ended firmer at 177.90/178.10 to the dollar on greenback selling by some banks, compared with Tuesday’s close of 178.40/50. Markets were closed on Wednesday for a public holiday. 

** The rupee has climbed 2.64 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 1.16 billion rupees worth of government securities in the week that ended on March 13, the second net inflow in four weeks, but they have sold a net 1.7 billion rupees this year, the latest central bank data showed. 

($1 = 177.9500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares fall to more than 6-year low on foreign selling; rupee weaker

Reuters: ** Sri Lanka’s share index fell for the third straight session on Tuesday to a more than 6-year closing low in light trading volume with foreign investors on the selling side, as the market awaits direction from the third and final vote on the 2019 budget, market sources said. 

** Parliament last week passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce a large fiscal deficit. The final vote is scheduled for April 5. 

** The stability of Prime Minister Ranil Wickremesinghe’s government has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.42 percent to 5,591.67, hovering near its lowest close since Dec. 26, 2012. 

** The benchmark stock index fell 1.85 percent last week, recording its sixth straight weekly drop. It has declined 7.6 percent this year. 

** Turnover was 291.3 million rupees ($1.63 million), well below last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 182.6 million rupees worth of shares, extending the year-to-date net foreign outflow of 6.15 billion rupees worth of equities. 

** The rupee ended weaker at 178.40/50 to the dollar on demand for dollars from some foreign banks, compared with Monday’s close of 178.25/40. 

** The rupee has climbed 2.35 percent this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades denting investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 1.16 billion rupees worth of government securities in the week that ended on March 13, the second net inflow in four weeks, but they have sold a net 1.7 billion rupees this year, the latest central bank data showed. 

($1 = 178.4000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez Editing by Robert Birsel)

Sri Lanka shares end little changed; rupee rises

Reuters: ** Sri Lanka’s share index ended little changed on Monday, hovering near its 5-1/2-year low, as investors awaited direction from the third and final vote on the 2019 budget, market sources said. 

** Parliament last week passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.02 percent to 5,614.98, hovering near its lowest close since Sept. 9, 2013 hit on Wednesday. 

** The benchmark stock index fell 1.85 percent last week, recording its sixth straight weekly drop. It has declined 7.2 percent so far this year. 

** The turnover was 251.4 million rupees ($1.41 million), well below last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 40.8 million rupees worth of shares on Monday, extending the year-to-date net foreign outflow of 5.97 billion rupees worth of equities. 

** The rupee ended firmer at 178.25/40 to a dollar on greenback inflows and weak dollar demand, compared to Friday’s close of 178.40/55. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The rupee has climbed 2.4 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 1.16 billion rupees worth of government securities in the week ended March 13, the second net inflow in four weeks, but they have sold a net 1.7 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.2000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka tourist arrivals up 7-pct in Feb; Chinese visitors plunge

ECONOMYNEXT - Tourist arrivals to Sri Lanka grew 7 percent from a year earlier to 252,033 in February 2019, the state tourism development authority said, amid a steep fall in Chinese visitors.

The top generating markets were India with 13 percent of arrivals, the United Kingdom 12 percent, China 11 percent, and France and Germany 7 percent each.

Indian visitors had fallen 1.9 percent to 21,286, and the UK had grown 8.8 percent to 29,750.

Arrivals from China had plunged 22 percent to 28,039 amid traditional Chinese Lunar New Year holidays.

Visitors from the US rose 61 percent to 9,678, Australian arrivals rose 61 percent to 6,469.

In 2018, Sri Lanka welcomed 2,333,796 tourists.

In the first two months of the year, Sri Lanka recorded 496,272 visitor arrivals, up 4.6 percent from a year earlier.

Sri Lanka vehicle registrations fall in February as demand slows

ECONOMYNEXT – Sri Lankan vehicle registrations fell sharply in February 2019 to 2,347 units from 3,147 units the previous month and significantly down from 5,024 units 12 months ago, brokerage JB Securities said in a report.

“Vehicle registrations slowed in February due to slowing demand and a smaller number of calendar days in the month,” the report said.

Brand new motor car registrations were marginally up to 434 units in February, from 429 units the previous month, but significantly down from 773 units 12 months ago.

Small engine cars accounted for 76.3 percent of the registrations.

“Indian OEMs (original equipment manufacturers) are yet to produce cars with Euro 4 compliant engines and dual airbags,” the report said.

“Thus they are excluded from the market. Financing share was 50.2 percent, in line with the normal monthly average.”

The number of pre-owned motor car registrations fell to 1,913 units in February, from 2,718 units the previous month but significantly down from 4,251 units 12 months ago, JB Securities said.

Small engine cars below 1,000cc accounted for 90.2 percent of volumes.

“Toyota was the segment leader accounting for 890 units (Vitz 740) followed by Suzuki with 799 units (Wagon R 533)” the report said. Financing share was 56.7 percent in line with the normal monthly average.

Sri Lanka shares end near 5-1/2-year low, rupee edges higher

Reuters: ** Sri Lanka’s share index fell on Friday, hovering near a 5-1/2-year low and recording its sixth straight weekly drop, as investors sold risk assets while they awaited the impact of 2019 budget proposals, market sources said. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.29 percent to 5,616.24, hovering near its lowest close since Sept. 9, 2013 hit on Wednesday. 

** The benchmark stock index fell 1.85 percent during the week, its sixth straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 1.69 billion rupees ($9.47 million), double of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 22.6 million rupees worth of shares on Friday, but they have been net sellers of 5.93 billion rupees worth of equities so far this year. 

** The rupee ended firmer at 178.40/55 to a dollar on greenback inflows and weak dollar demand, compared to Thursday’s close of 178.75/85. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The rupee has climbed 2.4 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.4000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares recover from 5-1/2-year low, rupee firms

Reuters: ** Sri Lankan shares recovered from a 5-1/2-year low on Thursday on bargain hunting after four straight sessions of losses, but concerns over economic and political stability kept the gains in check. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index rose 0.46 percent to 5,632.79, pulling back from its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 677.7 million rupees ($3.79 million), less than last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 18.9 million rupees worth of shares on Thursday, taking the year-to-date net foreign outflow to 5.95 billion rupees worth of equities so far this year. 

** The rupee snapped a three-session losing streak, ending at 178.75/85 per dollar in lacklustre trade, compared to Wednesday’s close of 178.80/90. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares fall for 4th straight session, rupee weakens

Reuters: ** Sri Lankan shares fell for a fourth straight session on Wednesday, hovering near 5-1/2-year low, as investors sold blue- chips amid concerns over economic and political stability. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.71 percent to 5,606.96, its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 270.2 million rupees ($1.51 million), less than a third of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 45.6 million rupees worth of shares on Wednesday, but they have been net sellers of 5.93 billion rupees worth of equities so far this year. 

** Shares in conglomerate John Keells Holdings Plc fell 2.5 percent, while Nestle Lanka Plc lost 4.1 percent. The biggest listed lender Commercial Bank of Ceylon Plc fell 3 percent. 

** The rupee, which fell for a third session, closed a tad weaker at 178.80/90 per dollar compared to Tuesday’s close of 178.70/90. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.1 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.6500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez)

Sri Lanka shares fall to more than 5-1/2-year low, rupee falls ahead of budget vote

Reuters: ** Sri Lanka’s shares fell for a third straight session to a more than 5-1/2-year low on Tuesday as investors awaited a budget vote later in the day to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe. 

** Sri Lankan Finance Minister Mangala Samaraweera last week presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. An interim budget vote is scheduled for Tuesday. 

** Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. The final budget vote is scheduled for April 5. 

** The Colombo Stock Exchange index fell 0.59 percent to 5,646.78, its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 390.6 million rupees ($2.19 million), less than half of last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 10.8 million rupees worth of shares on Tuesday, taking the year-to-date net foreign outflow to 5.98 billion rupees worth of equities so far this year. 

** Shares in Nestle Lanka Plc fell 2.9 percent, while Sampath Bank plc lost 3.1 percent lower. 

** The rupee closed a tad weaker at 178.70/90 per dollar compared to Monday’s close of 178.50/65. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.5500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares end at 5-1/2-year low, rupee falls ahead of budget vote

Reuters: ** Sri Lankan shares ended at a 5-1/2-year low and the rupee fell on Monday as investors awaited a budget vote on Tuesday to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe. 

** Sri Lankan Finance Minister Mangala Samaraweera last week presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. An interim budget vote is scheduled for Tuesday. 

** Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index slid 0.73 percent to 5,680.30, its lowest close since Sept. 10, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 400 million rupees ($2.24 million), less than half of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 6.1 million rupees worth of shares on Monday, but they have been net sellers of 5.96 billion rupees worth of equities so far this year. 

** Shares in Hatton National Bank Plc fell 4.0 percent while Sri Lanka Telecom Plc lost 5.9 percent, Seylan Bank Plc ended 11.3 percent lower and Sampath Bank plc closed down 2.5. 

** The rupee closed tad weaker at 178.50/65 per dollar compared to Friday’s close of 178.40/60. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.3 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.4500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka tourist arrivals up 7-pct in Feb; Chinese visitors plunge

ECONOMYNEXT- Tourist arrivals to Sri Lanka grew 7 percent from a year earlier to 252,033 in February 2019, the state tourism development authority said amid a steep fall in Chinese visitors.

The top generating markets were India with 13 percent of arrivals, the United Kingdom 12 percent, China 11 percent and France and Germany 7 percent each.

Indian visitors had fallen 1.9 percent to 21,286 and UK had grown 8.8 percent to 29,750.

Arrivals from China had plunged 22 percent to 28,039 amid traditional Chinese Lunar New Year holidays.

Visitors from the US rose 61 percent to 9,678, Australian arrivals rose 61 percent to 6,469.

In 2018 Sri Lanka welcomed 2,333,796 tourists.

In the first two months of the year Sri Lanka welcomed 496,272 visitors, up 4.6 percent from a year earlier.

Sri Lanka shares fall to 5-1/2-year low; rupee steady after dollar bond sale

Reuters: **Sri Lankan shares fell to a near 5-1/2-year low on Friday as investors sold largecap stocks, outweighing purchases by foreigners. 

** The Colombo Stock Exchange index settled 0.52 percent lower at 5,722.25, its lowest close since Sept. 18, 2013. 

** The benchmark stock index fell 1.63 percent for the week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 2 billion rupees ($11.21 million), more than double of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 145 million rupees worth of shares on Friday, but they have been net sellers of 5.97 billion rupees worth of equities so far this year. 

** The rupee closed steady as the island nation sold $2.4 billion in five-year and 10-year U.S. dollar-denominated bonds, successfully tapping the international markets at a time the country is facing strains on its finances. 

** The sale is crucial for the island nation to boost investor sentiment which was dented by rating downgrades by all three rating agencies after a political crisis in October. 

** The rupee closed unchanged at 178.40/60 per dollar for a third day. Market sources said they expected inflows from the sovereign bond sale will help boost the rupee. 

** Sri Lankan Finance Minister Mangala Samaraweera on Tuesday presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. 

** The IMF last week agreed to extend Sri Lanka’s $1.5 billion loan programme by one year and has reached staff-level agreement to disburse the sixth tranche of the loan. 

** The rupee has climbed 2.4 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors exited government securities for the second straight week in the week ended Feb. 27, with net sales of 3.4 billion rupees, the central bank’s latest data showed. 

($1 = 178.4000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares, rupee end steady on dollar bond sale

Reuters: Sri Lankan shares and the rupee closed steady on Thursday as the island nation launched the sale of U.S. dollar-denominated sovereign bonds and orders topped $3 billion. 

** The sale is crucial for the island nation to boost investor sentiment which was dented by rating downgrades by all three rating agencies after a political crisis in October. 

** The rupee closed unchanged at 178.40/60 per dollar. Market sources said they expected inflows from the sovereign bond sale will help boost the rupee. 

** Sri Lankan Finance Minister Mangala Samaraweera on Tuesday presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. 

** The IMF last week agreed to extend Sri Lanka’s $1.5 billion loan programme by one year and has reached staff level agreement to disburse the sixth tranche of the loan. 

** The rupee has climbed 2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** The Colombo Stock Exchange index closed 0.01 percent firmer at 5,752.35, hovering around its lowest close since Nov. 27, 2013 hit on Wednesday. 

** The benchmark stock index fell 1.43 percent last week. It declined 2.9 percent in February, its second straight monthly fall. 

** Turnover was 637.1 million rupees ($3.57 million), less than last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 329.3 million rupees worth of shares on Thursday, extending the year-to-date net foreign outflow to 6.1 billion rupees worth of equities. 

** Foreign investors exited from government securities for the second straight week in the week ended Feb. 27, with net sales of 3.4 billion rupees, the central bank’s latest data showed. 

($1 = 178.5000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka shares fall to over 5-year closing low; rupee gains

Reuters: Sri Lankan shares fell on Wednesday to a more than five-year closing low in thin trade, a day after the country proposed in its 2019 budget higher spending and set an ambitious target to cut fiscal deficit, analysts said. 

** The rupee closed firmer on inward remittances and dollar selling by exporters. 

** Sri Lankan Finance Minister Mangala Samaraweera on Tuesday presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. 

** The IMF last week agreed to extend Sri Lanka’s $1.5 billion loan programme by one year and has reached staff level agreement to disburse the sixth tranche of the loan. 

** The Colombo Stock Exchange index closed 0.33 percent weaker at 5,751.60, its lowest close since Nov. 27, 2013, as investors sold large caps. 

** The benchmark stock index fell 1.43 percent last week. It declined 2.9 percent in February, its second straight monthly fall. 

** Turnover was 385.1 million rupees ($2.16 million), less than half of last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 317.8 million rupees worth of shares on Wednesday, extending the year-to-date net foreign outflow to 5.8 billion rupees worth of equities. 

** The rupee ended firmer at 178.40/60 per dollar, compared with Tuesday’s close of 179.00/25. 

** Foreign investors exited from government securities for the second straight week in the week ended Feb. 27, with net sales of 3.4 billion rupees, the central bank’s latest data showed. 

** The rupee has climbed 2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

($1 = 178.2500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka shares recover on bargain hunting; rupee gains

Reuters: Sri Lankan shares rose on Tuesday, recovering from a more than five-year closing low hit in the previous session, as investors picked up battered stocks, and 2019 budget proposals to increase spending and cut fiscal deficit boosted sentiment, analysts said. 

** The rupee closed firmer on inward remittances and dollar selling by exporters. 

** Sri Lankan Finance Minister Mangala Samaraweera on Tuesday presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. 

** The IMF has agreed to extend Sri Lanka’s $1.5 billion loan programme by one year and has reached staff level agreement to disburse the sixth tranche of the loan. 

** The Colombo Stock Exchange index closed 0.28 percent firmer at 5,770.57, edging up from its lowest close since Nov. 28, 2013 hit on Friday. Markets were closed on Monday for a holiday. 

** The benchmark stock index fell 1.43 percent last week. It declined 2.9 percent in February, its second straight monthly fall. 

** Turnover was 1.2 billion rupees ($6.71 million), more than last year’s daily average of 834 million rupees. 

** The rupee ended firmer at 179.00/25 per dollar, compared with Friday’s close of 179.70/85. 

** Foreign investors exited from government securities for the second straight week in the week ended Feb. 27, with net sales of 3.4 billion rupees, the central bank’s latest data showed. 

** The rupee has climbed 2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

($1 = 178.8500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka shares slump to over 5-year closing low on margin calls

Reuters: ** Sri Lankan shares fell 1.1 percent on Friday to a more than five-year closing low, as margin calls following recent losses forced investors to sell risky assets, analysts said. 

** The rupee closed firmer on dollar inflows from inward remittances and selling of the greenback by exporters. 

** The IMF has agreed to extend Sri Lanka’s $1.5 billion loan programme by one year and has reached staff level agreement to disburse the sixth tranche of the loan, government and diplomatic sources told Reuters on Friday. 

** The Colombo Stock Exchange index closed 1.07 percent weaker at 5,754.31, its lowest close since Nov. 28, 2013. 

** The benchmark index fell 1.43 percent this week. It declined 2.9 percent in February, its second straight monthly fall. 

** Turnover was 350.5 million rupees ($1.95 million), less than half of last year’s daily average of 834 million rupees. 

** The rupee ended firmer at 179.70/85 per dollar, compared with Thursday’s close of 179.95/180.15. 

** Finance Minister Mangala Samaraweera’s 2019 budget next week will attempt to stick to fiscal targets set by the International Monetary Fund, while raising spending on farmers and public servants to woo voters ahead of polls later this year. 

** Traders said there was little impact on the exchange rate from the central bank’s last week surprise move of reducing commercial banks’ statutory reserve ratio (SRR) by 100 basis points from March 1. 

** The decision will increase liquidity by around 60 billion rupees, the central bank had said. 

** Foreign investors exited from government securities for the first time in five weeks in the week ended Feb. 20, with net sales of 1.5 billion rupees, the central bank’s latest data showed. 

** The rupee has climbed 1.6 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

($1 = 179.6000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)