Sri Lankan shares closed lower for a second straight session on Monday, weighed down by financial and industrial stocks, as the island nation grapples with the COVID-19 hit to its economy, particularly its tourism sector.
** The CSE All Share Index, which has lost 21.8% this year, closed down 1.06% at 4,795.40.
** Sri Lanka's tourism regulator said on Sunday it would reopen the tourism sector only in August, denying a media report that said the sector would open in mid-June.
** The country attracted around 2 million tourists last year and the sector contributes around 11% to the nation's gross domestic product.
** Meanwhile, its central bank reported on Monday that the country's trade deficit in the three months to March widened to $1.85 billion from $1.66 billion in the same period a year earlier.
** March imports and exports also fell, the central bank reported
** Industrial conglomerate John Keells Holdings Plc fell 1.8%, while Commercial Bank of Ceylon shed 2.3%. They were among the drags on the index for the session.
** Trading volume on the benchmark index fell to 34.9 million, compared with 38.2 million in the previous session.
** Foreign investors were net buyers, raking in 307.9 million Sri Lankan rupees ($1.66 million) worth of shares, according to exchange data.
** The Sri Lankan rupee was quoted at 186 against the U.S. dollar as of 1214 GMT, 0.1% stronger compared with last session's close of 186.2, according to Refinitiv data.
($1 = 186.0000 Sri Lankan rupees)
(Reporting by Derek Francis; Editing by Vinay Dwivedi) ((derek.francis@thomsonreuters.com))
