Sri Lanka Market Update: Hemas Holdings Sails Smoothly Through the Hazy Macro/Political Picture

Banking on Sri Lanka: October 2019 Update

HNB: Explore Temples, Go on Safari, Relax on Golden Beaches...and Check Out Cheap Banks

Frontier and emerging markets (Vietnam)

Dylan Waller

Thematic (Sector/Industry)

<p>Sri Lanka's economy/stock market have been plagued by issues associated with politics and its external position this year, which resulted in poor stock market performance relative to its frontier market peers.  Select pockets of value can be found in some areas but there are no major positive catalysts for the stock market in the coming years, even though growth is poised to rebound significantly during 2019-2020.  I retain preference for other markets with stronger economic fundamentals such as Vietnam, Egypt and Uzbekistan (initiation note coming soon).</p>

Sri Lanka's economy/stock market have been plagued by issues associated with politics and its external position this year, which resulted in poor stock market performance relative to its frontier market peers.  Select pockets of value can be found in some areas but there are no major positive catalysts for the stock market in the coming years, even though growth is poised to rebound significantly during 2019-2020.  I retain preference for other markets with stronger economic fundamentals such as Vietnam, Egypt and Uzbekistan (initiation note coming soon).

Sri Lanka's Short Term Outlook Is Hazy: Limited Pockets of Value Present