Sri Lanka Stock Picks

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Wednesday, October 5, 2011

Sri Lanka the star in Asia for stocks, tourism

Amidst crises in the region, Sri Lanka remains the star for both stock market and tourism sector performance in Asia.

As reported in the Daily FT on Monday, the Colombo Stock Exchange remains Asia’s best performing frontier market with an over 2% year to date growth. This is in contrast to sharp plunges by other Asian bourses such as Bangladesh (down 28%), Hong Kong (down 22%), India (19%), and Singapore (18%).

The CSE yesterday released end September performance which put Sri Lanka on top, though by yesterday the year to date return of All Share Index had reduced to 1.29%.

Sri Lanka has also topped South Asia in terms of enjoying highest tourist arrivals growth. The Pacific Asia Travel Association (PATA) revealed last week that Sri Lanka recorded a 32% growth in July highest in comparison to other Asia Pacific countries.

source - www.ft.lk