Exchange, banks close for New Year, reopen Jan 5

Exchange, banks close for New Year, reopen Jan 5

BCEL was the only stock to trade in every session yesterday. Surprisingly enough, BCEL stock traded in every session yesterday, but the volumes as anticipated were extremely thin (8.6K), for a turnover of US$8,250. BCEL gave up all of Friday's gains, as its price fell -350 kip (4.4 percent) to close down at 7,600 kip or US$0.95c. The index lost 7.74 points (-0.85 percent) to close down at 907.21. Today's trading is the last for the year and is very likely to follow yesterday's pattern. The exchange and banks reopen on January 3.

US and European markets remained closed yesterday for public holidays.

2011, as a confounding year, may go down as the year when political risk completely dominated and outshone all the KPIs of economics, earnings and interest rates as the main force driving capital markets.

Raising the US debt ceiling brought the United States to the brink of default in August and was the markets' most volatile month with daily swings of 4 percent.

The €uro this year has shed just 2.5 percent against the dollar - sitting at US$1.30. This is hardly what one would expect upon fears that it may not be around for much longer. We wish all readers a happy and prosperous New Year.

vientiane times