Colombo stocks sink to new lows with S&P SL 20 index down 10% for 2018

July 3, 2018 (LBO) - Colombo stocks continued their decline hitting new lows for 2018. Key indices were both lower with the All Share Price Index (ASPI) down .77% and the S&P SL 20 down 1.34% on the session. Turnover was a weak Rs566mn (US$3.6mn). The trend of foreign selling continued as net foreign sales were Rs183mn (US$1.2mn). Year to date the ASPI is down 4.52% while the S&P SL 20 is now down 10%. Index heavyweight John Keells Holdings (JKH) was hit hard down 3.4%, with trading in its shares accounting for 32% of the total paltry market turnover. With stocks moving down steadily and closing at the lows of the day, several brokers expect the pain to continue.