Sri Lanka stock market closed Tuesday in Coronavirus holiday

[The Invisible]

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange will be closed Tuesday, a Securities and Exchange Commission spokesman said as the government extended holiday in a bid to halt the spread of Coronavirus in the country.

A decision on the next two days will be made later in the day, he said.

The government declared three holidays asking all non-essential businesses not to operate on March 17, 18 and 19 while asking some key government services and private businesses in banking, food transport and distribution to operate.

“Do not consider these Public Holidays (government agencies),’ the state information office said in a statement.

“Except for health, food supply, transport, essential services, banks, District Secretary and other divisional secretary offices, the holiday would apply to all ministries, departments, corporation and state agencies.

“The government is asking the holiday be given to the private sector as well.

“Monitoring the transmission of the COVID19 virus the government may or may not extend this holiday.”

Sri Lanka has already closed schools, universities, museums and zoos. (Colombo/Mar17/2020)

[Antonym]

Warren Buffett famously said, "I buy on the assumption that they could close the market the next day and not reopen it for five years."

However, like the third-class passengers on the Titanic, people like us desperately need an exit route when prices are sinking. Keeping online platforms of the CSE open would have enabled a somewhat orderly exit with minimum panic, similar to what we witnessed last week.

When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. Is there any way the CSE can operate while minimizing public interactions (to curb the spread of COVID-19)?

[slstockVeteran]

Warren Buffett famously said, "I buy on the assumption that they could close the market the next day and not reopen it for five years."

However, like the third-class passengers on the Titanic, people like us desperately need an exit route when prices are sinking. Keeping online platforms of the CSE open would have enabled a somewhat orderly exit with minimum panic, similar to what we witnessed last week.

When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. Is there any way the CSE can operate while minimizing public interactions (to curb the spread of COVID-19)?

Antonym,

1) After a long time. As mark of courtesy wanted to make a quick reply.
Good to see you.

2) There are several threads related to Corona and Market is you want to read.

3) "When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. "

Any justifications for this claim ( other than guessing the mad behavior of the herds)?
Do you think CSE is not already too attractive ?



ps :I don't write on this forum much now and also write on my Face book.
But during this "Pandemic" , I decided to visit here a bit more  as each of us
needs comfort to survive this CSE epidemic which seems far greater than Corona Pandemic

[Antonym]

Warren Buffett famously said, "I buy on the assumption that they could close the market the next day and not reopen it for five years."

However, like the third-class passengers on the Titanic, people like us desperately need an exit route when prices are sinking. Keeping online platforms of the CSE open would have enabled a somewhat orderly exit with minimum panic, similar to what we witnessed last week.

When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. Is there any way the CSE can operate while minimizing public interactions (to curb the spread of COVID-19)?

Antonym,

1) After a long time. As mark of courtesy wanted to make a quick reply.
Good to see you.

2) There are several threads related to Corona and Market is you want to read.

3) "When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. "

Any justifications for this claim ( other than guessing the mad behavior of the herds)?
Do you think CSE is not already too attractive ?



ps :I don't write on this forum much now and also write on my Face book.
But during this "Pandemic" , I decided to visit here a bit more  as each of us
needs comfort to survive this CSE epidemic which seems far greater than Corona Pandemic

Hello, slstock!

Since last Friday (which was the last trading day at CSE) other equity markets have declined by about 15%. This represents this week's Coronavirus Effect, which is a global phenomenon.

But Sri Lankan shares have not yet suffered this decline because CSE was closed. When the CSE reopens and if shares drop in tandem with other markets, SL equities would be on top of my shopping list.

[slstockVeteran]

Warren Buffett famously said, "I buy on the assumption that they could close the market the next day and not reopen it for five years."

However, like the third-class passengers on the Titanic, people like us desperately need an exit route when prices are sinking. Keeping online platforms of the CSE open would have enabled a somewhat orderly exit with minimum panic, similar to what we witnessed last week.

When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. Is there any way the CSE can operate while minimizing public interactions (to curb the spread of COVID-19)?

Antonym,

1) After a long time. As mark of courtesy wanted to make a quick reply.
Good to see you.

2) There are several threads related to Corona and Market is you want to read.

3) "When the market finally reopens, it would probably take 3 market halts before share prices become attractive for buying again. "

Any justifications for this claim ( other than guessing the mad behavior of the herds)?
Do you think CSE is not already too attractive ?



ps :I don't write on this forum much now and also write on my Face book.
But during this "Pandemic" , I decided to visit here a bit more  as each of us
needs comfort to survive this CSE epidemic which seems far greater than Corona Pandemic

Hello, slstock!

Since last Friday (which was the last trading day at CSE) other equity markets have declined by about 15%. This represents this week's Coronavirus Effect, which is a global phenomenon.

But Sri Lankan shares have not yet suffered this decline because CSE was closed. When the CSE reopens and if shares drop in tandem with other markets, SL equities would be on top of my shopping list.

Antonym,

Many other stock markets, including US had multi year bull runs.
Some markets increase 20-50% over the runs over the years.
Many of them were at peak and needed a correction (Corona or not) .

Why do we need /expect  CSE  to trade lower than 2012 low?

 ps :Our collective thinking also adds to market sentiments and movements

[Antonym]

Slstock,

You would know that Fear and Greed drive the market - not Logic and P/E Ratios. Therefore, there will be a point in time when share prices decline significantly below what I think the underlying companies are worth in the long term. That is when I will buy.

The COVID-19 situation is still unfolding, and will continue to do so in the near future. The economy is already reeling from this and other impacts. Companies will continue to feel the effect for at least a year from now.

So, my message would be: Don't panic, but be cautious.

[BackstageTop contributor]

Welcome back Anto after many years. Thanks all for the insights, much appreciated.
Hoping against hope that we maintain the zero mortality ratio and for a flattening of the curve.
This is as good a time as any to recognize that all of us are one species despite the superficial differences,ponder on our mortality and how to be a better person than you were yesterday.
May you all be well and happy.

[spw19721Active Member]

Fruitful discussion... Keep it up ...

[slstockVeteran]

Slstock,

You would know that Fear and Greed drive the market - not Logic and P/E Ratios. Therefore, there will be a point in time when share prices decline significantly below what I think the underlying companies are worth in the long term. That is when I will buy.

The COVID-19 situation is still unfolding, and will continue to do so in the near future. The economy is already reeling from this and other impacts. Companies will continue to feel the effect for at least a year from now.

So, my message would be: Don't panic, but be cautious.

It true that markets run on fear and greed. Agreed.  

I also understand your thinking to buy low as possible.

But it is important at this time as a whole , to not unnecessarily panic.
If we all think to sell in short term thinking market is going to crash 15%
( more as you implied  ) or wait till such to happen , then thats exactly
how markets crash due to collective behavior and chain panic.  


Don't panic, but be cautious is good advice.

[The Invisible]

Don't panic but be cautious and don't forget to look for opportunities....