Sri Lanka Stocks Climb to 4-Year High on Sirisena’s Surprise Win
This article is for subscribers only.
Sri Lanka’s benchmark stock index rose to the highest level in almost four years and the currency gained after President Mahinda Rajapaksa conceded defeat in an election that ended his decade-long rule.
Incoming President Maithripala Sirisena campaigned on a pledge to end nepotism and corruption, ensure religious harmony and wean the nation away from dependence on funding from China. Rajapaksa had cut fuel and power prices, raised pensions and lifted guaranteed crop prices for farmers to woo voters after a rule that critics say was marked by corruption.