ASPI reaches highest ever point

The All Share Price Index (ASPI) recorded its highest ever point in its history with investors reacting to the inclusion of Sri Lanka in CalPERS list. U.S-based CalPERS (California Public Employees Retirement Systems) has added Sri Lanka (Colombo Stock Market) under its emerging markets list in a review, the pension fund said in a report Tuesday. With an investment pot of US$185 billion, CalPERS is considered by governments of developing nations among the most influential pension funds in the world.

Turkey, Thailand, Argentina and Sri Lanka were added to the list after they made improvements that include transparency, political stability, labour standards and market regulations, according to the report. Markets already included on Calpers' list are Brazil, Chile, the Czech Republic, Hungary, India, Israel, Jordan, Malaysia, Mexico, Peru, the Philippines, Poland, South Africa, South Korea and Taiwan.

Tuesday's report follows its annual report released in January in which CalPERS rated Sri Lanka as a permissible equity market. That report was aimed at providing a framework for evaluating a market's ability to support institutional investment.

The ASPI recorded a gain of 5.01 points to close the day at 1797.04, the highest point recorded in its history while the more liquid Milanka Price Index (MPI) recorded a gain of 6.38 points to close the day at 2499.01 points.