Lao index up +5.24pct for November but there's no cheese
Lao index up +5.24pct for November but there's no cheese
The index closed at a new year to date high 1023.21 or +5.24pct for November.
Shareholders showed maturity November 12 as they resisted a sale for the sake of a sale.
Knowing full well the market is in a bull rally (albeit with small turnover), shareholders kept the cupboard bare as buyers tried to find the cheese.
Brokers had their work cut out for themselves yesterday with the Index and EDL-Gen at year to date highs and at resistance levels.
With the turnover down and investor confidence growing there was no incentive to sell.
Only 3 trades saw 533 EDL-Gen shares cross in the first hour yesterday.
A further 5 dabbling trades for 1,000 stocks cleared in the next hour.
All trading was massively well down on the previous Monday's 163,000 traded shares.
By the close it was again a very lean mean day's trading as 343 BCEL banking stock shares crossed in the very last session, up 100 kip. Overall in its lowest turnover performance for many weeks, only 1,843 shares traded for 10,747,500 kip.
Foreigners' net buyers at the LSX will be hoping for offers of larger parcels; if that filters through the rally will extend.
vientiane times
