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Trading fades ahead of Chinese New Year
The Lao index 885.13 remained at its 52 week low but stock prices were in concentric circles very much unchanged Wednesday. Turnover yesterday frittered away to US$16,550 (31K shares) and was well down on Tuesday's surge of US$41,103 (77K shares).
Trading towards the Chinese New Year was very much as expected yesterday, with foreign investors preoccupied with the Chinese New Year and approaching Tet holidays.
Stock prices continue to remain relatively unchanged, but the market is trending lower. Volumes are very much as expected (lower) and likely to continue well into the end of January.
The momentum downward spiral continued in the first 5 trading sessions, when only 10,103 shares crossed for just 44,777,450 kip.
Then only another 20K stocks meandered between brokers in the closing (11:30am) session with 31,187 shares traded in total for Wednesday at 132,515,450 kip.
vientiane times
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