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03/03: Daily updates of the Lao Securities Exchange
Another dreary trading day flashed over the Lao stock market as total trading volumes was drying up rather quickly.
1. Executive Summary
- The Lao Securities Exchange: Another dreary trading day flashed over the Lao stock market as total trading volumes was drying up rather quickly. BCEL could maintain the 10,800 Kip per share on roughly half of the yesterday trading volume. On the other hand, EDL-Gen shares have cracked in the trading drought, dehydrating by 1.49 percent down to 6,600 Kip. Total turnover for BCEL and EDL-Gen has plunged by more than 45%, down to 387 million Kip and 485 million Kip respectively.
- Luang Namtha's tourist attractions to be upgraded: Luang Namtha provincial Tourism Department has announced the list of companies who have won bids to develop better facilities for local tourist destinations. The announcement was made last week by the Asian Development Bank (ADB) and Lao National Tourism Administration through the department.
- New strategy to bolster Xayaboury sweet corn exports: Xayaboury provincial authorities have formulated a new strategy to resolve a fall in exports of sweet corn to Thailand, as farmers struggle to recover from high export tariffs of 73% from two months ago. This month, the Thai government has announced tax exemptions on sweet corn imports.
- ETL pledges better service amid strong 2011 income forecasts: The Enterprise of Telecommu-nications Lao (ETL) forecasted an increase in revenue of about 7%, and in tax contributions of 10% this year. Income is expected to rise to 453 billion kip (US$56.4 million) this year.
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2. The Lao Securities Exchange
The Lao stock market
The market value of EDL-Gen has narrowed down to the lowest point of last week, and its trading volume also dropped 67% compared to the average daily volume of last week. EDL-Gen was able to protect the yesterday’s 6,700 Kip in the first session; however as soon as the price became red in the second session, a large portion of supplies at 7,000 Kip per share has shifted down to the 6,750 and 6,700 Kip, indicating the thinning confidence of EDL-Gen’s investors. BCEL, on the other hand, pinned securely on the 10,800 Kip as no dominant reactions were taken from either the buy side or the sell side. The Friday’s outlook will most likely follow the today bearish trend due to the damaging investors’ confidence.
The LSX Index 1,392.80 +16.78 [+1.19%]
The Lao Composite benchmark continued its excavation to the 1,392 index points, gauging closely to its 5-week low. The 1.19 percent index drop was contributed mostly by the temporary downfall of EDLGen. Market trades collapsed to a record low of 108 thousand shares, contracting total trading turnover to only 871 million Kip, 47% down form yesterday.
lanexang securities
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