WEEKLY MARKET REVIEW Week 35, August 21 2017 - August 27 2017

Global Equity Market Indexes Index

Prev. W/Close

Commodity Markets W. Chg (%)

YTD (%)

21,750.73

21,783.40

0.15%

9.61%

Gold (USD/ oz.)

NASDAQ (CCMP:IND)

6,221.92

6,271.33

0.79%

14.80%

DJ_Islamic (IMXL:IND)

3,732.33

3,743.97

0.31%

DJ_Industrial (INDU:IND)

FTSE (UKX:IND)

Last Close

Index

Prev. W/Close

W. Chg (%)

YTD (%)

1,291.40

Last Close

1,299.40

0.62%

13.74%

Silver (USD/ oz.)

16.90

17.10

1.18%

7.21%

14.03%

Crude Oil (USD/bbl.)

48.52

47.68

-1.73%

-11.39%

Platinum (USD/ oz.)

976.00

977.00

0.10%

8.08%

7,387.87

7,407.06

0.26%

4.79%

19,470.41

19,452.61

-0.09%

0.13%

MSCI_ World (MXWO:IND)

1,930.41

1,944.56

0.73%

10.45%

S&P 500 (SPX:IND)

2,430.01

2,438.97

0.37%

7.74%

Hang Seng (HSI:IND)

27,047.57

27,848.16

2.96%

29.08%

W. Chg (%)

YTD (%)

Dubai (DFMGI:IND)

3,601.20

3,624.49

0.65%

3.05%

GBP/USD

1.29

1.29

0.00%

4.72%

Abu Dhabi (ADSMI:IND)

4,492.66

4,493.81

0.03%

1.28%

USD/LKR

153.33

153.00

-0.22%

2.39%

Saudi (SASEIDX:IND)

7,179.34

7,245.66

0.92%

2.23%

USD/JPY

109.23

109.11

-0.11%

-7.20%

Bahrain (BHSEASI:IND)

1,298.94

1,302.13

0.25%

8.62%

EUR/USD

1.18

1.19

1.45%

13.52%

Qatar (DSM:IND)

9,106.19

8,951.82

-1.70%

-14.16%

NIKKEI (NKY:IND)

Oman (MSM30:IND)

4,889.28

4,946.89

1.18%

-13.76%

India (SENSEX:IND)

31,524.68

31,596.06

0.23%

21.33%

Brazil (IBOV:IND)

Source: Kitco.com/Traderslog.com

Currency Markets Index

Prev. W/Close

Last Close

Source: X-Rates.com

Colombo Stock Exchange (CSE)

67,976.80

71,132.80

4.64%

22.78%

W. Chg (%)

YTD (%)

China (SHSZ300:IND)

3,724.67

3,795.75

1.91%

14.76%

ASPI

6,436.28

6,409.37

-0.42%

3.10%

Germany (DAX:IND)

12,203.46

12,180.83

-0.19%

6.38%

S&P SL 20

3,706.02

3,609.57

-2.60%

3.66%

Index

Prev. W/Close

Last Close

Source: Colombo Stock Exchange

Gold Price Movement

Crude Oil Price Movement

Source: Traderslog.com

GBP/USD Movement

Source: Traderslog.com

EUR/USD Movement

Source: NY Times.com

Source: NY Times.com

All Share Price Index

GIH Cap. Shariah Index

Source: Bloomberg.com

Index

Prev. W/Close Last Close

ASPI

6,436.28

6,409.37

W. Chg (%)

YTD (%)

-0.42%

3.10%

Contribution of Top 10 Securities to Change of ASPI Company

Prev. W/Close Last Close

W. Chg (%)

YTD (%)

Index

GIH Cap.

1,358.90

Index

155.00

165.00

6.45%

31.79%

S&P SL 20

CEYLON TOBACCO

951.50

960.10

0.90%

19.05%

40.60

44.10

8.62%

-21.67%

Top 5 Gainers

LOLC

117.70

119.90

1.87%

65.38%

COMMERCIAL BANK

137.00

137.50

0.36%

-5.17%

LANKEM DEV.

CARGILLS

196.00

198.00

1.02%

1.85%

ARPICO

6.20

6.40

3.23%

1.59%

NATIONS TRUST

78.40

80.00

2.04%

AITKEN SPENCE

61.10

61.80

295.00

296.40

EXPOLANKA

SAMPATH

Prev. W/Close Last Close

3,706.02

Company

-0.31%

12.44%

W. Chg (%)

YTD (%)

3,609.57

-2.60%

3.66%

Prev. W/Close Last Close

W. Chg (%)

YTD (%)

3.90

14.71%

0.00%

152.50

173.70

13.90%

-3.39%

AMANA TAKAFUL

0.80

0.90

12.50%

0.00%

-1.11%

ADAM CAPITAL

0.90

1.00

11.11%

-28.57%

1.15%

-4.92%

TESS AGRO [X]

1.00

1.10

10.00%

-8.33%

0.47%

13.82%

Top 5 Losers W. Chg (%)

YTD (%)

Company

Prev. W/Close Last Close

YTD (%)

3.40

Top 3 GIH Cap. Shares Company

1,354.75

W. Chg (%)

S&P SL 20 Index

C T HOLDINGS COM.CREDIT

Prev. W/Close Last Close

W. Chg (%)

YTD (%) PC HOUSE

Prev. W/Close Last Close

0.20

0.10

-50.00%

0.00%

LANKEM DEV.

3.40

3.90

14.71%

0.00%

CEYLON PRINTERS

83.70

67.70

-19.12%

23.09%

AMANA TAKAFUL

0.80

0.90

12.50%

0.00%

CEYLON TEA BRKRS

4.50

3.90

-13.33%

0.00%

UDAPUSSELLAWA

32.40

35.40

9.26%

82.47%

HUNAS FALLS

46.50

41.40

-10.97%

-16.70%

1.00

0.90

-10.00%

-18.18%

Source : Colombo Stock Exchange BERUWALA RESORTS

Islamic Finance News Middle East startup investment nears $1bln in 2017- Twenty entrepreneurs were selected to receive access to fundraising, resources, and mentorship at the first ChangemakerXchange Summit. The event targeted entrepreneurs from across the Middle East, and was sponsored by social entrepreneurship platform Ashoka and digital transformation enabler SAP. Oman's Salalah Methanol secures $728mln project finance from 12 banks- Salalah Methanol Company (SMC), a wholly-owned subsidiary of the Oman Oil Company (OOC), said it has secured a 12-year $728 million project finance facility for funding an ammonia project from a mix of 12 international, regional and local banks. Number of M&A deals in MENA drops in the first half of 2017- The number of merger and acquisition (M&A) deals carried out in the Middle East and North Africa (MENA) region in the first half of 2017 fell by 23 percent year-on-year, according to accountancy firm EY. It said that 192 deals were conducted in the region during the first six months, down from 250 in the same period last year. 24.3mln Saudi work permits issued for private sector employment in 3 years- The number of work permits issued to private sector employees in Saudi Arabia reached about 24.3 million in the last three years. Professional services and engineering accounted for about 45 percent of the issued licenses. According to statistics issued by the Ministry of Labor and Social Development, 2016 witnessed a decline in the number of licenses issued by 3 percent.... Egypt begins offering booking for New Capital City homes after Eid Al-Adha- Egypt will start offering booking for residential units in the new administrative capital city after the Muslim Eid al-Fitr feast, Minister of Housing Moustafa Madbouli announced Thursday. The first residential district in the new capital city will include around 25,000 units in form of villas and flats, to be offered in various phases, Madbouli added. Two thirds of ‘expats’ in Kuwait's private sector salary less than $597- Expatriates working in the Ministry of Health receive salaries ranging from KD 120 for menial jobs to KD 300 for technical jobs and nursing, and salaries exceed KD 2,500 for specialized medical jobs; whereas expatriates’ salaries in the Ministry of Education range from KD 120 to KD 525.

Sri Lanka Business News Brazil trade delegation visits CRT Trade Fair- A high powered trade delegation from the Federative Republic of Brazil, one of the BRICS nations, visited Sri Lanka from August 10-12 to participate in the CRT Trade fair organized by the Ministry of Plantation Industries which was held at BMICH Colombo. On the advice of the Minister of Plantation Industries Navin Dissanayake, the officials of the ministry organized the three day study program with private sector support. Export growth gathers pace- Growth in exports is gathering momentum, with June marking an increase for the fourth consecutive month, with agriculture shipments rebounding, although a continuous dip in apparel sector performance is a concern. According to the Central Bank, exports earnings in June 2017 expanded year-on-year by 9.6% to $ 987 million. John backs higher interest subsidy for revamp of hotels- Given the high cost of construction and materials, the Tourism Development Ministry will make a fresh appeal to the Finance Ministry to increase the interest subsidy allocated to refurbish and upgrade facilities in hotels from the upcoming Budget 2018. “After several discussions with hotel industry stakeholders....” Tourism Development Minister John Amaratunga told the Daily FT. Jaffna Investor Forum generates overwhelming response- The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) conducted the third seminar of their 'Investor Forum' series in Jaffna on August 26 at Tilko Jaffna City Hotel. The Forum generated an overwhelming response with the participation of over 250 existing and potential investors, professionals and the business community. Net foreign inflows to CSE top Rs. 28 b- Net foreign inflows to the Colombo stock market have crossed the Rs. 28 billion mark year to date, reinforcing growing confidence by non-nationals. It was the second time in the history of CSE that the Rs. 28-billion mark was surpassed. The first time was in 2012. The record net inflows so far this year is a phenomenal achievement considering the fact that last year the figure was only Rs. 400 million whilst in 2015 there was.... Will not privatise railway: Transport Minister- Minister of Transport and Civil Aviation Nimal Siripala De Silva said the present Government will not privatise the railway service at any cost. He said at present other modes of transportation, specially the private bus service, had posed a challenge to the railway service, but the railway too should be maintained at least on a no-profit, no-loss basis. Sri Lankan startups pitch for Oslo Innovation Week- Sri Lankan startups can take part in Oslo Innovation Week, with a pitching event this week, says the Sri Lanka Association of Software and Service Companies (SLASSCOM) and ICT Norway (IKT-Norge). “SLASSCOM and ICT Norway have come together to offer Sri Lankan startups the unique opportunity to take part in the Oslo Innovation Week, which is scheduled for September this year. Lankans’ love for Pandas, Kwids and Nanos lifts July vehicle registration- More Pandas, Nanos and Kwids are seeing slowly taking more space in already congested Sri Lankan roads as the policymakers have dashed the hopes of many who were aspiring to drive a quality Japanese or European car in style. The latest vehicle registrations data shows that many who could earlier stretch their budgets to a Japanese-made car are now settling for much smaller.... Sri Lanka bond yields drop after syndicated loan- Sri Lanka's bond yields has dropped over two days after proceeds of a sovereign bond came to the market and overnight rates have also dropped as excess liquidity built up, dealers said. Deputy Treasury Secretary S R Attygalle said last week that 550 million dollars from a sovereign bond has arrived in the country, and will be used to improve debt management. Rupee ends firmer on exporter dlr sales- The Sri Lankan rupee closed slightly firmer yesterday as exporter dollar sales surpassed importer demand for the US currency, dealers said. The spot rupee ended at 152.90/95 per dollar, compared with Friday’s close of 152.95/153.00. “There were some dollar conversions. Some exporters sold the dollars,” said a currency dealer, requesting anonymity.

Global Business News Gasoline Jumps, Oil Slips as Harvey Slams Texas Refinery Center- Gasoline futures jumped to a four-month high and oil dropped as flooding from Tropical Storm Harvey in Texas led to the shutdown of major refineries. Motor fuel prices rose 2.7 percent and oil in New York slipped 2.7 percent. Harvey, the strongest storm to hit the U.S. since 2004, has flooded cities and caused plants to shut, leading to about 2.26 million barrels a day of crude and condensate capacity.... Euro, Pound Among Top Gainers as Dollar Falls on Thin Trading- The euro continued its climb toward 1.2000, extending gains from last week as traders looked ahead to month-end repositioning and continued to avoid the dollar amid U.S. debt ceiling concerns and Nafta negotiations. The common currency rose as high as 1.1984, gaining 0.5 percent to its highest since January 2015. Gold Jumps on Haven Demand as N. Korea Lobs Missile Across Japan- Gold rallied to the highest level this year after North Korea fired a ballistic missile over Japan, boosting demand for havens amid escalating tensions between Pyongyang and the U.S. and its allies. Bullion for immediate delivery gained as much as 0.9 percent to $1,322.41 an ounce, the highest intraday price since Nov. 9, and traded at $1,316.99 at 11:05 a.m in Singapore.... Yuan's Outperformance Widens With Biggest Jump in Seven Months- Gains in China’s currency accelerated sharply in overnight trading, with the yuan surging the most in seven months against the greenback. Traders struggled to find a reason for the 0.65 percent jump, with one noting that moves can be exaggerated amid thin liquidity in the overnight session. India's Central Bank Chief Seen Unlikely to Raise Quota on Debt- Foreigners looking to buy Asia’s best bonds will probably have to wait. Reserve Bank of India’s Governor Urjit Patel is unlikely to raise the quota on debt after inflows surged and muddied policy choices. He can’t allow runaway currency gains because exports are only just recovering from a slump, so he’s buying up the dollars pouring in. Chinese Banks Lead Asia Equity Gains as Money Market Rates Rise- Stocks in Hong Kong and China led gains in Asian equity markets as rising money market rates on the mainland boosted sentiment on lenders. The MSCI Asia Pacific Index added 0.1 percent to 160.62 as of 4:19 p.m. in Hong Kong, after posting its biggest weekly gain in five weeks. The Philippines market is closed for a holiday.

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