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28/06: Daily updates of the Lao Securities Exchange
1. Executive Summary
The Lao Securities Exchange
No more surprises, BCEL abated its liquidity to a more plausible level of 32K shares, over half of which still clung to the 8,000 Kip in the first session. However, the bank infused in good trading spirit as it retrieved the 8,100 Kip (+1.25%) in the second session. A turnover of LAK 261 million was credited to the bank. Simultaneously, EDL-Gen was persistently pouring the extra 83K (+64%) shares onto its 5,200 Kip. As a result, the electricity company imbued its turnover with a potentially overflowing LAK 432 million.
Laos taps into growing agricultural output
Local and foreign investors have planted rubber trees on a total area of 153,000 hectares across the country over the past decades, of which about 1,000 hectares have reached maturity to produce 3,159 tonnes of raw rubber a year. Laos has 29,000 hectares of coffee plantations with a potential yield of 46,000 tonnes a year, and 30,100 hectares of cassava plantations with a potential yield of about 451,000 tonnes a year. The country also can produce about 818,000 tonnes sugarcane and more than 649,700 tonnes of sweetcorn per year. There are also 25,513 hectares of eucalyptus plantations across the country.
2. The Lao Securities Exchange
The Lao stock market
Today was the 6th consecutive day EDL-Gen closed at the 5,200 Kip, and the next supporter is probably the 5,150 Kip. Starting from last Tuesday, total demand has reached an average of 132K shares per day, while total supply could only offer an average of 80K shares. The electricity company can zip its worry while being underpinned by such strong, although precipitating slightly over time, demand. Furthermore, the recent stable biddings were not a mere coincidence but the architectures of some foreign forces, which have not yet expressed any sign of fatigue. BCEL picked up a few interesting reactions today. The supply side, spoiled by the yesterday’s flash trading, was hoping for the same thing to happen today, but we all know the end of it. Demand climbed down to the reality of 50K shares as supply waited prudently with 61K shares. Overall, we started to see some positive sprinkles on the Lao securities market, especially its buying capacity; however it is still a long way from a bullish market.
The LSX Index 1,086.56 +2.64 [+0.24%]
The banking stock embossed the Lao index with a decorative 24 bps, raising it upward to 1,086 points. Trading volume returned to 116K shares (-68%) as market’s turnover salvaged a LAK 639 million (-76%).
Lanexang securities
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