Sri Lanka stocks fall due to Middle East crisis

January 8, 2020 04:08 pm

Sri Lanka’s stock market indices fell significantly on Wednesday due to rising tension in the Middle East.

The All Share Price Index (ASPI) was down by 2.11% while the Standard & Poor’s Sri Lanka 20 (S&P SL20) dropped by 2.64%.

Both indices fell on Wednesday after Iran fired rockets at military bases in Iraq hosting United States forces, raising the prospect of a regional conflagration that could disrupt oil supplies.

The US military said on Tuesday that Tehran fired more than a dozen rockets from Iranian territory against at least two Iraqi military bases hosting US-led coalition personnel.

The attacks follow the US killing of Iranian military commander Qassem Soleimani in Iraq last week. Iran had promised a severe response.

-With inputs from agencies

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