Colombo Stock Exchange closed amid unrest

Colombo, May 10 (IANS): The Colombo Stock Exchange (CSE) declared a public holiday on Tuesday as a nationwide curfew was imposed due to the violence that followed the previous night.

The CSE said in a statement that it was informed that the central bank’s real-time gross settlement system will not work on Tuesday, the Xinhua news agency reports.

Thus, the CSE Central Depository System is unable to complete the funds settlement and securities settlement falling on Tuesday under the delivery versus payment settlement mechanism.

“Under these circumstances, the CSE has declared Tuesday a holiday for the above operational reasons,” the CSE said.

At least five people have been killed and more than 200 people are believed to have been admitted to Colombo National Hospital following violence that erupted in the capital on Monday following clashes between pro and anti-government protesters.

Mahinda Rajapaksa resigned as prime minister on Monday as violent protests erupted.

Meanwhile, President Gotabaya Rajapaksa urged the opposition to form a multi-party government, but the latter refused to do so until he resigned.

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