Shares hit more than 1-wk closing high; PABC boosts turnover

REUTERS:  Sri Lankan shares touched a more than one-week closing high yesterday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover. The Colombo stock index finished 0.28 percent higher at 6,245.71, moving away from its lowest close since April 6 hit on Tuesday. Turnover stood at Rs.720.9 million ($4.82 million), less than the daily average of around Rs.740 million for this year. Foreign investors bought a net Rs.12.3 million worth shares yesterday, extending the year-to-date net foreign inflows into equities to Rs.639.8 million. Pan Asia Banking gained 1.5 percent, while shares in Ceylinco Insurance Plc jumped 17.8 percent