Last Updated : 28-08-2014 03:11

 
 

Manipulation to make CSE best performing market soon - Harsha

E-mail Print
Market manipulation would make the Colombo Stock Exchange (CSE) the number one performing stock market in the world soon, UNP National List MP Dr. Harsha De Silva said yesterday.

He made this statement referring to reports where statistics have showed CSE as the third best sock market in the world.

The statistics by Bloomberg showed that the CSE’s All Share Price Index had become the third best performing index in the world during the period from August 10, 2012 to September 10, 2012.

Dr. De Silva said anything would be possible when those who manipulate the CSE are controlling the Securities Exchange Commission (SEC) which governs the stock market.

“Don’t be surprised if the CSE becomes the number one stock market in a few days time, as all obstacles for market manipulation had been cleared,” he said.

Since the controversial resignation of the former Securities and Exchange Commission Chairman, Tilak Karunaratne on August 12, the market has been on an upswing with market players expecting lenient and market-friendly regulations from the new Chairman Dr. Nalaka Godahewa.

According to independent analysts, Dr.Godahewa has a strong case of ‘conflict of interest’ against him, being the Chairman of a listed firm.

Unlike his predecessor who said she was resigning to ‘uphold her principles’, Karunaratne went on record that he was under pressure to resign by a group of powerful investors, as he was trying to reopen certain investigations pertaining to market misconduct that had been put in the backburner.

Since the appointment of Dr.Godahewa on August 24, the main All Share Price Index (ASI) has risen over 13 percent amidst retail and high net worth interest. Yet, strangely enough, since his appointment there has neither been any revision in SEC regulations nor to the macro economic fundamentals of the country.

 
 

Views : 4821
 
SocialTwist Tell-a-Friend


Comments 

 
-17+5 # molligoda 2012-09-15 14:36
What is wrong with this man whose party will not come to power for the next 30 years? How does it affect him if the CSE becomes world best stock market? Wouldn't that encourage more and more investment in Sri Lanka? Is he trying to tell us that other countries around the world do not resort to such tactics? He has forgotten too soon the episode involving Raj Rajaratnam in NY.
Reply | Reply with quote | Quote
 
 
-1+4 # Rafi 2012-09-16 00:29
If it is manipulation why there is huge foreign inflows to the market. This man doesn't know the market cycle. Every market rebounds after huge sell off..
Reply | Reply with quote | Quote
 

Add comment


Security code
Refresh

ads
Rarely seen bunch
Protest at Mahaweli Authority
Another successful  surgery
Fifth Comoran Strike exercise in EP
Rarely seen bunch
Protest at Mahaweli Authority
Another successful  surgery
Fifth Comoran Strike exercise in EP