The Colombo Stock Exchange (CSE) is set to resume trading on Monday (11 May 2020) after its longest ever shut down aimed at combating the COVID-19 pandemic.
This decision has been taken consequent to the announcement made by the Government that both public and private sector entities in the districts of Colombo, Gampaha, Kalutara and Puttalam should re-commence work from Monday onwards, the CSE said in a disclosure.
However, the market will not operate under normal trading hours from 9.30 am to 2.30 pm on Monday, CSE's Chief Regulatory Officer Renuke Wijayawardhane said.
The Colombo Stock Exchange (CSE) has been remain closed for trading since 16 March 2020 following the curfew imposed by the government in order to contain the COVID-19 pandemic, only opening for a curtailed trading period on 20 March 2020.
But, after the Government reversed its decision and extended the curfew, the CSE stated that it too would remain closed.
Meanwhile, once trading recommences on Monday (11 May 2020), a new system will be in place where the CSE market will be automatically close for the day if the S&P SL20 index drops by 10%.
(LIN)