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)