Wednesday, October 27, 2010

Sri Lanka's stock investors increase amid boom

Oct 26, 2010 (LBO) - Sri Lanka's active stock market investors have increased to 64,000 by Septebmer 2010 from 37,000 a year earlier, Securities and Exchange Commission chairperson Indrani Sugathadasa said.
Sugathadasa said there were 530,000 accounts in the central depository system of the Colombo Stock Exchange but most of them were dormant.

She was speaking at an educational exhibition and seminar on the capital markets of Sri Lanka to market the investment day 2010.

Sri Lanka's stocks have risen steeply over 2009 and 2010 is currently going through a correction. Sri Lanka has been the first and second best performing market in the world for most of the year.

Deputy finance minister Sarath Amunugama said lower interest rates had made stocks attractive.
Capital was also flowing to emerging markets because of weak economic growth in developed countries.

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