The Sri Lankan stock exchange is the fourth worst performing bourse in the world, according to a US investment group.
Bespoke Investment Group’s analysis showed the Colombo Stock Exchange’s All Share Price Index, is down by 18.95% on a year to year basis, just ahead of struggling European economies, Spain, Greece and the Ukraine.
Sri Lanka has been best and second best performing stock market in previous years, however after the Securities and Exchange Commission (SEC) started investigating suspect trades and imposed price bands, share prices fell sharply.
According to The Island, lobbying of President Rajapakse resulted in the removal last November of the Director General of the SEC, Malik Cader, who conducted investigations into insider trading and stock price manipulation.
Vietnam tops this year’s list with a gain of 20.97%, with Pakistan a close second at 20.37%.
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