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Investor confidence builds momentum
Vientiane: It's been a slow haul but yesterday continuing demand with investor confidence saw both stocks channeling to the upside.
The index had its strongest close since Sept 14 (987.28) when it closed at 964.84 on Wednesday. Both stock prices headed north and went through the 90 day exponential moving average (EMA) “a technical buy signal” to new highs. BCEL gained 100 kip and EDL-Gen 50 kip as the LSX index volume bars increased 200 percent to the previous day as they recorded their best result since Dec. 23.
EDL-Gen had another strong day's trading. The market had a slow start with 2K and 5K of early session trades by the 5th close; with one final session to go 152K of stocks traded for 710.3 million.
The index gained near 9 points on the back of a 50 kip gain with no surprises in EDL-Gen's share price up to 4,650 kip, the same as it was on March 13 and its best price since early September last year.
As at the 11:30 am market close, another 46,000 shares crossed, as the index went north with a daily 11.15 point gain to close at 964.85. Shares topped the 198,2K mark at 943.89 million (US$118,305).
vientiane times
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