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Sri Lankan shares continue to fall

Shares in Sri Lanka fell for a fourth straight session, as foreign investors continue to sell blue chip stocks, reports Reuters.

The Colombo stock index dropped 0.47 percent this week, with year to date losses of 3.4 percent.

The fall comes as foreign investors continue to sell equities net worth 169.6 million rupees on Thursday, bringing the year-to-date net foreign outflows to 2.5 billion rupees.

Analysts state that the downward revision in economic growth earlier this month from 5 percent to between 4 percent and 4.5 percent by Central Bank Governor Indrajit Coomaraswamy has hurt economic sentiment.

Earlier this month, shares hit a 15-month low as political uncertainty ensured that foreign selling continued.