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04/05: Daily updates of the Lao Securities Exchange
1. Executive Summary
The Lao Securities Exchange: BCEL has opened up its door to the clogging trades, knowing what will happen to its Market Caps. Negotiations ended with approximately 32,000 shares traded for 8,200 Kip per unit. The listed bank netted a total turnover of 262 million Kip. EDL-Gen swung backward to 6,650 Kip; the oscillation period is shortening as the amount of trades deteriorates. Total trades reached 83,600 shares, pulling turnover up 130% to roughly 554 million Kip.
Cassava producer set to list on Lao stock market: Lao Indochina Group Co Ltd (LIG) expects to be listed on the Lao Securities Exchange by early next year. LIG yesterday signed an agreement with Lanexang Securities Public Company (LXS) for this company to be its financial advisor and underwriter. Currently the company has four business operations – a tapioca factory, a cassava plantation project, and import-export and air ticketing services. Initially only the tapioca factory and cassava plantation project will be listed on the Lao Securities Exchange.
Fish farmers trawl for profits as wet season looms: Fish farmers are hoping to sell off their stocks before the wet season begins, because demands for fish will decrease. The rainy season will also pose risks of flooding and water contamination. In the dry season, demands for fish rise in tandem with the number of baci ceremonies, weddings and parties held, because fish is the popular dish at such events.
2. The Lao Securities Exchange
The Lao stock market
Domestic purchases put up the defensive force field as the foreign sector bombarded EDL-Gen with an overwhelming amount of sell-offs (96% of trades). Total supplies for the electricity company surged 53% to roughly 340,000 shares, tiling the higher price floor of 6,650 Kip. The discharged demands are testing EDL-Gen’s endurance. The average daily demands of last week have already diluted down to 150,500 shares from the previous 350,000 shares of the week before. The likelihood of another downfall this week is fairly high. BCEL used the first session as an armistice period because sellers could not come to terms with the other party, not until the second session. BCEL collapsed its price to 8,200 Kip perhaps as an attempt to provide more incentives for the indecisive buyers.
The LSX Index 1,332.57 +3.11 [+0.23%]
More trades were pouring back into the porous Lao securities market, up 129% to the current 115,600 shares. Market turnover leapt forward from the yesterday’s 241 million Kip to roughly 816 million Kip by today. The LSX simmered its index slowly to 1,332 points, up by 23 basis points.
lanexang securities
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