ECONOMYNEXT- Sri Lanka stocks have regained investor interest following a two day stock market tank, brokers said.
The broader ASPI closed 3.19 percent up, or 467.26 points, at 15,127.71. The S&P SL20 Index was up 4.54 percent, or 193.65 points, at 4,458.49.
Turnover was at2.8 million rupees.
Sri Lanka stocks remained unfazed ahead of the US administration’s tariff implementation deadline, effective on Wednesday (9).
On Monday the Colombo Stock Exchange saw waves of uncertainty creeping in with panic selling taking place. Trading was halted for 16 minutes after the S&P SL20 dropped more than 5 percent.
Banking (967 million rupees) and capital goods (776 million rupees) stocks traded in the positive territory in Tuesday’s session after reacting negatively since the announcement on Thursday.
Top contributors to the ASPI were Commercial Bank (up 6.3 percent at 130.25 rupees), John Keells Holdings (up 5.4 percent at 19.70 rupees), Sampath Bank (up 4.4 percent at 107.25 rupees), HNB (up 4.3 percent at 280.50), and Hayleys (up 6.2 percent stronger at 138.00 rupees).
Stock markets across the world are settling as they land favorable negotiations with the US trade department.
“Japan’s Nikkei jumped 6% after Japan became the first major economy to secure priority tariff negotiations with Donald Trump,” foreign media reported.
However, Viet Nam’s counter-proposal to slash tariffs to zero was rejected, with the US claiming this would foster “non-tariff cheating”.
Tokyo’s Nikkei 225 rose 6.03 percent to 33,012.58, India BSE Sensex closed 1.49 percent stronger at 74,227.08, while Nifty 50 rose trading 1.69 percent up at 22,535.85, and South Korea’s Kospi closed 0.26 up at 2,334.23 on Tuesday. (Colombo/Apr08/2025)
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