Lao index record closing week YTD - signals two outstanding stocks to own
Lao index record closing week YTD - signals two outstanding stocks to own
The Lao stock market index closed the week at a record breaking 1148.63 points, a new YTD high. Stronger volumes Friday were well in line with expectations as confirmed by the first hour's trading with 349 trades involving an increase, totaling 61,000 stocks. But then trades faded to only total 360 trades for the day as savvy investors noting the bullish market conditions again locked in “price resistance” barriers .
- EDL-Gen in the last session yesterday notched out a 6th days gain +50 kip to close at 5,450 kip on an irrelevant 43 stocks in the last session.
- BCEL yesterday improved on its lean November MTD volumes trading, all in the first hour Friday when it had a stronger showing with a total of 74 trades but sellers willing to “play the market” saw the banking stock price dip -50 kip to yesterday's closing price at 7,400 kip/share (the fall was irrelevant to the stock price value) but again failing to break the 7,500 barrier.
The next three closing sessions saw stronger resistance conditions prevail as sellers put their foot on the brake pedal as they mulled over their next strategic move. 63,043 stocks crossed yesterday for 360m/kip.
Lao LSX market synopsis. The Lao listed stocks, EDL-Gen and BCEL, are standout considerations for investors because they are under the radar. Appeal is further enhanced with excellent twice yearly dividends and the fact that both are currently well below their intrinsic values. As such they represent outstanding stocks to own and despite the current rally they both are still undervalued with suppressed stock price valuations. Both EDL-Gen and BCEL are expanding their business asset bases and BCEL is right on track to increase its annual profits, possibly by as much as 20pct. An important factor for shareholders analysis when it comes to future declared dividend payments.
vientiane times
