Sri Lankan shares end at 1-1/2-year lows
Posted on January 11th, 2016

Jan 11 Sri Lankan shares fell for a sixth straight session, to mark their lowest close in 1-1/2 years, led by declines in diversified and banking stocks due to local and global concerns, brokers said.

Fears over investors shifting to risk-free assets such as government securities due to rising yields in government securities dented sentiment.

Analysts expect more investors to shift from risky assets to fixed assets with higher interest rates and shrinking of global investments in Sri Lanka.

Speaking at an economic forum in Sri Lanka Thursday, the 85-year-old drew similarities between the current economic environment and the financial crash of 2008.

When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008,” he said.

Unfortunately China has a major adjustment problem and it has a lot of choices and it can actually transfer to the rest of the world its own problems by devaluing its currency and that is what China is doing,” Soros said of the world’s second largest economy.

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