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22/06: Daily updates of the Lao Securities Exchange
1. Executive Summary
The Lao Securities Exchange: The yesterday’s turmoil had shaken BCEL almost to its 52W bottom; however the today’s trades have restored some order to the confusing stock. The volume burst moistened the bank’s price to 8,150 Kip (+1.88%). Almost 25K shares (+157%) exchanged hands, generating roughly LAK 202 million (+162%). EDL-Gen already discharged a fair amount of volume yesterday as its price returned to 5,200 Kip. The extent of sales continued outward to 103K shares (+418%) today, despite the indifferent price; the generation company spouted a fivefold turnover of LAK 538 million.
Government exceeds revenue collection targets: In the first eight months of FY2011, the government has collected 8,790 billion kip, equivalent to 67% of the annual target. Domestic revenue accounted for 6,713.58 billion kip. The major source of domestic revenue was taxation, amounting to 3,347.48 billion kip or 74.6% of the annual plan. Revenue from import and export taxes was 1,934 billion kip or 63.44% of the annual target. The state asset sector collected 722.45 billion kip or 65.11% of the annual plan. The government received 2,076.95 billion kip in grants from developing partners.
Lao exports to China double in first quarter: The value of Lao exports to China reached over US$246 million during the first three months of this year (January-March), almost doubling the figure of the previous three months. From October to December of last year, Lao imported around US$128 million worth of goods were from China. The increase is attributed to the recent takeover of the formerly Australian-owned Xepon mine in Laos by a Chinese investor. The statistics show that Laos registered a trade surplus with China last fiscal year as the Lao export value reached more than US$562 million, while imports stood at more than US$482 million.
2. The Lao Securities Exchange
The Lao stock market
Buying impulses were pumping on both stocks. BCEL enjoyed a 56% increase in total demand, from 41K shares to 64K shares, while EDL-Gen immersed in its 162K shares (+78%). Demand on EDL-Gen has been on a rush since yesterday, emitting a relieving aura on the Lao bourse. The foreign sector was particularly interested in the generation company today as they poured in their capital regardless of the strong sell-offs. EDL-Gen’s suppliers were also trying to shrug off their headaches, resulting in sudden selling blast, from the yesterday’s 68K shares to today’s 143K shares. On the side, BCEL was fairly calm with its selling urges, which was a surprise. Overall, both stocks are still running on low volume, hence their prospects for the next two weeks might not experience any significant change.
The LSX Index 1,087.88 +3.96 [+0.37%]
The index has edged closer to 1,090 upon receiving additional 37 basis points. The small stock gains acted like pain-killers for only postponing the immediate suffering. However the real good news is the volume surge, from 30K shares to 128K shares; market’s turnover reached over LAK 739 million as a result.
lanexang securities
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