Sri Lankan shares eye best day in about two years after Trump's tariff pause
April 10 (Reuters) - Sri Lankan shares jumped over 5% on Thursday, set for their best day since July 2023, mirroring gains in the wider Asia market after U.S. President Donald Trump announced a 90-day pause on the hefty tariffs imposed on most nations.
The CSE All Share .CSE index was last trading 5.3% higher at 15,659.56, with gains led by financial stocks. Asian peers .MIAPJ0000PUS were up 4.8%. The pause in U.S. reciprocal tariffs, however, did not apply to China.
The Trump administration had imposed a 44% tariff on the island nation that has been steadily recovering from its worst financial crisis in decades.
The temporary reprieve eases concerns in Sri Lanka, which had estimated that the tariffs would affect some $3 billion of exports.
The day's gains helped trim losses since Trump announced the tariffs on April 2 to about 2.7%. The CSE All Share index is down 2.3% so far this year.
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