Equities Recover Losses, But Risks Remain

We remain wary the Colombo Stock Exchange (CSE) in spite of its resilience to negative headwinds in the form of the arrest of a key foreign equity investor on insider charges and a damning EU report putting preferential trade tariffs in jeopardy. A return back above its recent trendline at 3,100 and the previous high of 3,139.21 would encourage a more constructive outlook, but we still question how much more upside there is for the CSE given its sharp increases so far this year.

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