Sri Lanka stocks close 0.22-pct lower, selling amidst political flare-up

ECONOMYNEXT- Sri Lanka’s stocks closed 0.22 percent lower on Monday with selling centred on John Keells Holdings (JKH), provisional data showed. 

The All Share Price Index (ASPI) closed 11.45 points lower at 5,299.50. The ASPI tumbled throughout the day, falling to a low of 5,299.02 in the final half hour of trading, before recovering marginally.
 
The more liquid S&P SL20 Index closed 9.86 points or 0.40 percent down at 2,459.96.
 
Political tensions flared on Monday, as Western Province Governor Azath Salley and Eastern Province Governor M. L. A. M. Hizbullah resigned amid pressure from Sinhala nationalists and a protest fast by a Buddhist monk politician in Kandy.
 
There are also calls for the resignation of Industry and Commerce Minister Rishard Bathiudeen.
 
Protests against the three Muslim politicians spread over to several towns on Monday.
 
Market turnover was 188.6 million rupees, with 58 stocks falling and 52 gaining.
 
Index-heavy JKH closed 1.30 rupees lower at 136 rupees a share, contributing to the ASPI fall.
 
JKH also contributed 53 percent to daily turnover. (Colombo/Jun03/2019)
 

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