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Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyFri Sep 13, 2019 4:24 am by Rana

» Performance of the Market-Weekly
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» කැසිනෝ ව්‍යාපාරික රවී විජේරත්න, අර්බුදයට පත් MTD Walkers මිල දී ගැනීමට සැරසෙයි
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyMon Sep 09, 2019 7:47 pm by nihal123

» Happy Birthday
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyMon Sep 09, 2019 10:54 am by nuwanmja

»  Rajgama Heroes !
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptySat Sep 07, 2019 10:24 am by කිත්සිරි ද සිල්වා

» Yahoo mail
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» Thread for News on International Markets
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» JINS.N0000 ( Janashakthi Insurance PLC)
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyFri Sep 06, 2019 9:47 am by The Invisible

» Browns Investments update
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» Hayleys MGT
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» SEYB.N0000 ( SEYLAN BANK PLC )
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» Tourism Sector
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» CLND Not to miss
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» Thread for News on CSE and SL Economy
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» TJL.N0000 (Textured Jersey Lanka PLC.)
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» UBC Union Bank of Colombo
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» Obituary Notice.
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» Trading Journal
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» Thread for News on Local and Foreign Politics
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» Sri Lanka bank profitability under pressure: Moody’s
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» ‘වැඩකාරයාගේ නමත් සිරිසේන’ කියලා හිනාවුණා
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» 8000 Post Club | Celebration of a Great Milestone කිත්සිරි ද සිල්වා
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyThu Aug 29, 2019 7:17 pm by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyThu Aug 29, 2019 10:37 am by කිත්සිරි ද සිල්වා

» Sri Lanka to call for bids to develop Mannar Basin natural gas find
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» “බිරිඳගේ සහ පෙම්වතියගේ වෙනස මොකක්ද?”
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptySun Aug 25, 2019 11:51 pm by sanjulanka

» The Central Bank of Sri Lanka Reduces its Policy Interest Rates
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» JKH - 155/00 Breakout is pending
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» Tokyo as at 21.08.2019 Morning
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» අනං මනං! #/+?.<>
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» What Would You Do?
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» Back of the Legends
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» NTB.N0000 (NATIONS TRUST BANK PLC)
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» Melstacorp (MELS)
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» Cargills (CARG)
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» DOCK.N0000 (COLOMBO DOCKYARD PLC)
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» SHL.N0000 (Softlogic Holdings PLC)
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» SAMP.N0000 (SAMPATH BANK PLC)
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» CFVF - First Capital
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» Ceylinco Insurance CINS
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» HNB.N0000 ( Hatton National Bank PLC)
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» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
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» LIOC.N0000 (Lanka IOC PLC)
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» HAYL.N0000 Hayleys PLC
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» PABC.N0000 (Pan Asia Banking Corporation PLC)
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» Grain Elevators
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» Sri Lanka sets US$3.5bn tea export target for 2030
Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 EmptyMon Aug 12, 2019 1:27 pm by The Invisible

» Tea: July 2019 national average shows gains month on month
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» OSEA .N
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» Sri Lanka mulls reforms to punish 'errant' plantation companies
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» JKH.N0000
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Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009

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Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 Empty Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009

Post by Backstage on Wed May 08, 2019 10:56 am


Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009

8 May 2019

Says its holdings getting marginally affected following attacks; shows market’s already low expectations
Opines Easter Sunday attacks significantly increase likelihood of former President Rajapaksa’s party coming back to power


The Sweden-based global asset management company, Tundra Fonder’s Tundra Sustainable Frontier Fund in its April update said the Colombo bourse has hit its lowest levels since the end of 2009, following the Easter Sunday attacks that killed over 250 people, among them 42 tourists.


“The stock market has been in a steady downward trend under the current government. Internal wear and tear has created paralysis of action, and both the business society and investors in the equity market have been requesting change.


The equity market is now at the lowest levels since the end of 2009, calculated in US$,” Tundra Sustainable Frontier Fund’s April update said.


The fund has 12 percent of its assets invested in Sri Lankan stocks, which they said were marginally affected by the terrifying attacks that occurred on April 21.


“…the fund’s holdings in Sri Lanka (12 percent of assets) were only marginally affected by the terrifying terrorist attacks that occurred in Colombo on April 21st, which says a lot about the market’s already low expectations.”


The fund said eventhough the attacks occurred after the peak seasons, there is a risk of significant fall in tourist arrivals.


“That being said, it should be added that this type of event should be seen as uncommon in Sri Lanka as it was in Paris, Marseille or Stockholm. There is no traditional breeding ground for religiously motivated terrorism in the country.

The civil war that ended in 2009 had a completely different background.


“Sri Lanka is often used as an example of a country with great tolerance for different religions, and although confrontations have arisen between mainly Buddhists and Muslims, one must conclude that the shock from the events is as significant as when it occurred in Sweden,” the fund said.


Meanwhile, the fund noted that the April 21 attacks significantly increased the likelihood of former President Mahinda Rajapaksa’s party coming back to power.


“What occurred on April 21st significantly increased the likelihood of former President Rajapaksa’s party coming back to power.


“Given the still very tough discussions between the Opposition and the incumbent government after the attacks, we would not be surprised if the elections are brought forward. We think this would be very positive for the equity market.”


Sri Lanka’s presidential election is scheduled somewhere between the end of 2019 until the beginning of 2020 and parliamentary elections in 2020.
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Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009 Empty Re: Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009

Post by serene on Wed May 08, 2019 5:43 pm

Thanks Backs for Some Positives amids Chaos.

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