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Market all set to open on firmer footing
The Lao LSX stock market last Friday finished on firmer footing and that should be this week's leading indicator despite a quieter day yesterday.
Both stocks (EDL-Gen/BCEL) to recap had gains last week and that signal should normally translate to another good week ahead. But the market driver's “supply and demand” will influence any outcome.
There is no lack of demand for either stock as both are currently very well priced - it's more a case of foxing stocks in large volumes at bargain prices. This is not so easy with few large parcels of BCEL shares on offer. The index gained 22 points last week, with BCEL gaining 200 kip last Monday to Friday, to 6,200 kip (US$0.777) per share albeit on low volumes.
EDL-Gen had a strong groundswell for 2 weeks with a good showing of steady volumes early last week, to close up positively with a 100 kip gain by Friday at 4,450 kip (US$0.558).
LAO LSX Monday
The market was predictably quite as usual for Mondays in the opening sessions yesterday.
BCEL went missing in action until the close, but was up 100 kip though again on very low turnover (6.7K shares) to 6,300 kip.
In early carryover trades some EDL-Gen traded as they matched on light volumes (5.7K shares) unchanged at 4,450 kip per share. Trades then remained scarce, with only 13.1K EDL-Gen shares trading for 58.4M kip (US$7,334) by the halfway mark and no trades during the 3rd-5th sessions. By the close another 800 odd power distributor shares exchanged in an otherwise uneventful day, and the market eventually closed up 2 points at 922.42 points, turning over just US$13.3K.
vientiane times
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