Presidential forum for stock market on Friday

President Mahinda Rajapaksa is scheduled to meet capital market representatives on Friday to listen to industry issues as well as articulate the Government’s expectations.

The Securities and Exchange Commission (SEC), the Colombo Stock Exchange (CSE) and several CEOs of broker firms as well as select investors are scheduled to attend the meeting.

The current state of the stock market, regulations and overall challenges as well as innovative ideas to boost the overall capital market are expected to figure in this meeting, which is the second by the President in less than a year.

Despite improved economic fundamentals as emphasised by the Government, the Colombo stock market has so far produced a negative 20% return year-to-date with low activity despite valuations remaining attractive after having dipped by 8.5% last year from the bull runs in 2009 and 2010.