All Share Price Index - ASPI

Kipling wrote:Kavindu. 
With all the enormous once in a life time positives why is the uptrend slow & without vigor. That I do not get.

• If Democratic nominee Joe Biden gets elected, it might boost Asia's stock market.
  
  
• Strategists and economists say that Biden would likely move to remedy damaged foreign relationships when he takes office.
  
  
• A resolution for strained relations in Asia could lift pressure off Asian equities.
  
  
• https://www.ccn.com/asia-stock-market-biden-winning/
  
  

KavinduTM wrote:Most probably tomorrow will be a red day.

samaritan wrote:A Biden presidency could bring a huge boost to Asian markets, both short-term and long-term.

• If Democratic nominee Joe Biden gets elected, it might boost Asia's stock market.
  
  
• Strategists and economists say that Biden would likely move to remedy damaged foreign relationships when he takes office.
  
  
• A resolution for strained relations in Asia could lift pressure off Asian equities.
  
  
• https://www.ccn.com/asia-stock-market-biden-winning/
  
  

ASPI is expected to record steady gains over the next two months beginning with marginal gains. 

dayandacool wrote:

KavinduTM wrote:Most probably tomorrow will be a red day.

You got your wish..

Hope123 wrote:Touched 5350 and bounced back to read as 5379 and day closed as 5363. 
Turnover read as 2 Billion with 12356 traders. 
Can we expect green tomorrow. 

xhunter wrote:USD to LKR again shows some upward trend

Intrinsic wrote:

xhunter wrote:USD to LKR again shows some upward trend

Hi! xhunter !

24/8 -- 184.481 LKR/USD
25/8 -- 184.610
26/8 -- 186.326

Yes, there is considerable effect !

Intrinsic wrote:

Intrinsic wrote:

xhunter wrote:USD to LKR again shows some upward trend

Hi! xhunter !

24/8 -- 184.481 LKR/USD
25/8 -- 184.610
26/8 -- 186.326

Yes, there is considerable effect !

Month         Export      Trade deficit     LKR/USD (max)
April '20      277          - 840               193.56
May '20       602          - 407               190.52
June '20      906          - 161               186.78
July '20                                             186.06
August '20                                         186.15

(in million USD)
Couldn't find figures for July.
Sources: Tradingeconomy, Economynext & Exchangerate.org.uk

As per current govt policy of controlling imports, the trade deficit has come down to 161 i/o usual 800 levels. Covid must have had positive effect on this issue. Probably LKR will appreciate when our exports are bounced back to their normal levels.

dayandacool wrote:

Intrinsic wrote:

Intrinsic wrote:

xhunter wrote:USD to LKR again shows some upward trend

Hi! xhunter !

24/8 -- 184.481 LKR/USD
25/8 -- 184.610
26/8 -- 186.326

Yes, there is considerable effect !

Month         Export      Trade deficit     LKR/USD (max)
April '20      277          - 840               193.56
May '20       602          - 407               190.52
June '20      906          - 161               186.78
July '20                                             186.06
August '20                                         186.15

(in million USD)
Couldn't find figures for July.
Sources: Tradingeconomy, Economynext & Exchangerate.org.uk

As per current govt policy of controlling imports, the trade deficit has come down to 161 i/o usual 800 levels. Covid must have had positive effect on this issue. Probably LKR will appreciate when our exports are bounced back to their normal levels.

There is another side to this as well. Even though we are trying to be an export base economy with a trade surplus, controlling imports have it's negative impacts too. We do not manufacture enough raw material for completely ban some of the imports. For example, even though we manufacture garments, we do not completely manufacture the raw materials involved in the garment segments. Another good example is the ban on imports of maize. Since we do not produce the required amount of maize in the country, whole paltry sector is in trouble at present.

Bottom line is, it's always good to restrict / ban imports. But when doing so, the government should first take necessary steps to produce them locally or gradually reduce imports rather than doing it in a haste. 

Present Ban in imports will be short lived as this was a counter measure taken to avoid economic impacts of covid and to stabilize the rupee against a back drop of a rupee collapse in March-April. When eventually they ease the ban on imports, rupee could hit high again.

Just my thoughts and I could be wrong.

Intrinsic wrote:

dayandacool wrote:

Intrinsic wrote:

Intrinsic wrote:

xhunter wrote:USD to LKR again shows some upward trend

Hi! xhunter !

24/8 -- 184.481 LKR/USD
25/8 -- 184.610
26/8 -- 186.326

Yes, there is considerable effect !

Month         Export      Trade deficit     LKR/USD (max)
April '20      277          - 840               193.56
May '20       602          - 407               190.52
June '20      906          - 161               186.78
July '20                                             186.06
August '20                                         186.15

(in million USD)
Couldn't find figures for July.
Sources: Tradingeconomy, Economynext & Exchangerate.org.uk

As per current govt policy of controlling imports, the trade deficit has come down to 161 i/o usual 800 levels. Covid must have had positive effect on this issue. Probably LKR will appreciate when our exports are bounced back to their normal levels.

There is another side to this as well. Even though we are trying to be an export base economy with a trade surplus, controlling imports have it's negative impacts too. We do not manufacture enough raw material for completely ban some of the imports. For example, even though we manufacture garments, we do not completely manufacture the raw materials involved in the garment segments. Another good example is the ban on imports of maize. Since we do not produce the required amount of maize in the country, whole paltry sector is in trouble at present.

Bottom line is, it's always good to restrict / ban imports. But when doing so, the government should first take necessary steps to produce them locally or gradually reduce imports rather than doing it in a haste. 

Present Ban in imports will be short lived as this was a counter measure taken to avoid economic impacts of covid and to stabilize the rupee against a back drop of a rupee collapse in March-April. When eventually they ease the ban on imports, rupee could hit high again.

Just my thoughts and I could be wrong.

Hello Dayandacool,

Agreed! Thank you.

In order to save the local agriculture, certain imports must be controlled. It has to be done in well planned manner. As you can see the current situation of maize, turmeric etc.. It has to be based on supply / demand in each season, generally.

Local industries: Should ban whatever items that can be manufactured in SL in export quality.

Car imports can be selectively controlled for some reasonable period. The local auto manufacturers / assemblages will be benefited by doing so. But the Gosl will again lose their tax income too!

Garment industry: The current export value is not real. The effective garment industry export VALUE should be "export CIF - import CIF". If you say last year garment export was 6B usd, our real BENEFIT would be 2B because the balance 4B had been paid out to import piece-goods from China. You can't stop this unless we start our own quality fabric mills & trim factories. But starting good fabric mills is very unlikely to happen.

Since the Gosl is in severe debt crisis right now, they must control / ban imports to collect funds to service debts. Or else are they going to get more new loans to service the current debts ? Or selling out ports & airports ?

KavinduTM wrote:Today is 21st of August.

According to my latest technical analysis on ASI, market will recover within one and half month. The uptrend is already started.

Hopefully ASI will reach 5728 (Almost recovered) before October 1st if things will go on like this without any disasters (such as 2nd wave of covid-19). So we can recommend this period as a full buy situation.

Also mostly next week will be a green week.But also there's like 1% possibility it to be a red week too.( I'm talking about the overall result of the week) So thinking on the more possibility, it will be around 90+. Which will make ASI around 5475. The worst we can expect in next week will be stuck in the same level. I'm sure it won't be red.

Today ASI                          :- 5382
At the end of the next week :- 5382 - 5475
At the end of September      :- 5728 - 5831

Consider all above are just predictions. So there's a chance to go them wrong. But it won't go wrong :3

GL guys. Happy Trading!