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Liquidity falls on LSX price gridlock
There were no surprises when there were no trades during the first 3 sessions at the 10:30am ½ way mark yesterday - BCEL nor EDL-Gen.
A price rally, particularly for EDL-Gen, was on the cards, but the lower volumes gave sellers little interest at current discounted prices, to rally the long drawn out price gridlock.
• The local Lao index climbed 16.48 points Monday to 910.41 points on a rise of 100 kip in EDL-Gen's share price (4,300 kip) and a fall of 50 kip in BCEL's share price (6,950 kip). The total day's turnover was low at 29,275,000 kip (US$3,655). Only 6,500 shares matched by the close.
• The Lao kip retained the high ground with the “Aussie” in local intraday exchange rates on Monday. The Lao kip intraday reached 8008 Kip / US$1.
• Local bank 3 year fixed deposit term rates are very appealing and attractive at 12-13 percent (kip) 6-7 percent (US$). That, along with the current price of the 2 local listed stocks, and a spike in property values gives an investor some great portfolio diversification options.
vientiane times
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