Sri Lanka Shares May Extend Rally on Stock Splits
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Sri Lanka’s stock rally may enter a “blow-off phase” as stock splits help draw individual investors to the world’s second-best performer this year, according to Nomura Holdings Inc.
The Colombo All-Share Index has climbed 103 percent this year, the biggest gainer after Mongolia’s MSE Top 20 Index among 91 global benchmark indexes tracked by Bloomberg. The gauge has tripled since the end of a 26-year civil war in May 2009 on optimism that the government will be able to focus on economic development and draw investment.