Sunday, May 29, 2011

Today's M^3 - Laos Stock Market Down Over 20% in the Past Month

Today's Major Market Move features an equity index from the Laos People's Democratic Republic (who might want to consider conquering some additional territory so that cartographers can use their official name). The Laotian stock market is down over 20% in the past 30 days.

(Click on the image for a larger view. Click here for an updated listing of global equity indexes.)

This is looking like a post-IPO crash, except in this case it's for their entire stock market, which just opened for trading in January.

The Lao Securities Exchange is scheduled to start trading the shares of two state enterprises on January 11, state media reports said Wednesday.

Communist Laos, one of the world's poorest countries, in October announced plans to open a stock exchange with two prominent state enterprises - EDL Electricity Generation Company and the Bank pour le Commerce Exterieur Lao (BECL) - as its first listed stocks.

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