ECONOMYNEXT – Sri Lanka’s Colombo All Share Price Index recovered its losses on Wednesday after falling a day earlier in the wake of unexpectedly high tariffs imposed on Bangladesh and some East Asian nations, brokers said.
Sri Lanka is yet to receive the letters of the applicable US tariff rate, but President Donald Trump is expected to release more letters in the next few hours.
The broader ASPI rose 0.72 percent, or 129.37 points, to 18,161.49; while the S&P SL20 moved 0.69 percent, or 36.98 points, to 5,358.73.
US administration has promised ’90 deals in 90 days’ after extending the deadline to August 1.
“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change,” US president Donald Trump said on social media platform Truth social on Tuesday.
US President Donald Trump has urged Federal Reserve Chair Jerome Powell on Wednesday to cut interest rates, citing a study that found ‘tariffs have had zero impact on inflation’.
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The ASPI was pushed by John Keells Holdings, which ended 0.30 rupees higher at 23.50; HNB, which rose 4.00 rupees to 334.00; Central Finance company, which ended 6.75 rupees stronger at 272.00; R I L Property, which moved 2.50 rupees to 27.80 rupees; and Melstacorp, which climbed 1.50 rupees to close at 147.75.
Turnover fell to 5.9 billion rupees on Wednesday, while the share volume was 176,611,417.
Investor interest in the regional equity markets were positive on Wednesday.
Tokyo stocks ended higher as exporter shares were bought on a weaker yen, with investors hoping for progress in Japan-U.S. tariff talks before the new 25 percent rate takes effect, Japan’s The Mainichi newspaper said.
Nikkei 225 index gained 0.33 percent, or 132.47 points, to close up at 39,821.28.
Heavyweight semiconductor shares and auto shares with export exposure have pushed the market higher.
Korean stock Exchange was trading positively after being announced a 25 percent tariff on its exports to the United States.
The Kospi index has touched 3,137.17 around 1:30 p.m. Korean time, up 0.7 percent from Tuesday’s close, reaching a new annual high, The Korean Herald said.
As at 3.55 pm Sri Lankan time, spot gold was trading at 3,302.43 US dollars, down 6.41 US dollars. (Colombo/Jul9/2025)
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