Liquidity returns, prices unchanged
Liquidity returns, prices unchanged
A rise should be on the cards when the volumes reappeared Thursday but that wasn't the sentiment of the local traders.
Wednesday's low volumes were eradicated yesterday as the weekly charts went “W” shape.
Prices remained stubbornly locked and unchanged as buyers snapped up bargains. The day's turnover was a big contrast to the previous day's low turnover of 1750 shares.
Yesterday BCEL returned and opened trading with 4.5K shares exchanging in the first hour on Thursday.
By the 10:30am close the volumes returned to a sturdy 108K shares and then to 143K by 11am and to a bullish 218K shares reaching near US$163K by the close.
The mid week bounce we forecasted occurred but as forewarned markets started to turn red on Thursday's close and that slide won't assist today's markets.
Markets in Asia took charge yesterday and opened in the black after a late Wall Street turnaround occurred overnight.
Markets had been trading on thin ice because of the Greek GREXIT gaining momentum. The EU backed Greece to stay, they had no choice. That stabilised markets a little in the last hour of Wednesday's trading, but the Greeks haven't a clue as to which direction they are heading. Greece was urged to stay on track with austerity measures or risk defaulting within 2 months.
A small sell off occurred as markets closed, as investors absorbed China's PMI fall in number.
vientiane times
