CSE will have great days very soon
HSBC upgrade is a big news, CNBC also reported it. Its a double promotion for us, from NEGATIVE - NEUTRAL - POSITIVE. Fitch & Moody's will also upgrade ratings very soon.
Budget deficit falls by 10-11% ( please check the right % ), First time in history budget deficit is falling.
IMF loan approved - CSE bull increased market by about 50% last time we got IMF loan in 2012. So at this level ASI 6526 + 50% = ASI 9789
Big investments - Koreans invest $450Mn to KKS LCEM project
Japan HITACHI ready to invest a monorail to travel 500kmph
Japan ready to do more investments
Singapore signed MOU to develop Trincomalee under megapolis
IMF deal will bring many big & retail investors into Sri Lanka.
LOANS - Japan gave development loan of $4.5Bn to Sri Lanka
ADB promised to give $Bn ( I think 2.5BN ) for next 3 years
World bank will definitely help us
Government will sell bonds in international market to raise funds
Exchange rate - Rupee will strengthen because Imports have fallen.
Many of imports we have to pay in Yuan, Yen, Indian rupee
now we have currency swaps with India and we will sell bonds in
Renminbi markets. So pressure for Rupee will be less.
VAT & Taxes - Market reacted to all taxes, so no more negative news from taxes.
Share transaction levy also in effect which means CGT will never
come into this market.
Interest rates/ T-bill rates -small increases like 0.01 / 0.02 / 0.35 Bp
But market did not fall. This shows the bullish sentiment.
GSP + = we will get this very soon = more jobs , more investments , more exports
EU fish ban - removed - exports of fish about $100Mn
Conclusion = Market did not react to any of the good news I told here. SO IT WILL REACT VERY SOON. This is start of BULL RUN dear friends.
Maharaja - more & more money.