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Sri Lanka stocks plunged on Tuesday when it reopened for business following the devastation caused by tsunamis over the weekend, a local internet media reported Wednesday.
Fearing the loss of income from tourism, investors sold off the hotel stocks bringing down the Hotel and Travel sector by 142 points, a 9.4 percent drop, said the web page of the lankapage.com.
All sectors posted losses Tuesday, said the web page.
It detailed that Diversified Holdings index lost 8.3 percent, power and energy sector lost 8.14 percent, and healthcare sector posted a loss of 2.8 percent. Analysts expect a drop in economic growth next year due to the decline in tourist arrivals, it said.
Sunday's earthquake measuring 8.7 on the Richter scale in Indonesia triggered devastating aftermath in a number of coastal nations across Asia and Sri Lanka is among those worst-hit by the tsunamis.
(Xinhua News Agency December 29, 2004)
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