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Sri Lanka Stock Market Moved

October 16, 1997

COLOMBO, Sri Lanka (AP) _ Sri Lanka’s stock exchange was moved to a secret location today, a day after a truck bomb ravaged its headquarters along with other parts of Colombo’s business district.

Eighteen people were killed in the bombings and subsequent gun battles with rebels in the Sri Lankan capital.

Isuru Tilakawardena, a senior official of the Colombo Stock Exchange, told The Associated Press that the exchange was closed but trading was likely to resume Friday despite considerable damage to the main computer system. Work would resume at a secret location for security reasons, he said, declining to give further details.

Tilakawardena said a few brokerage houses that, like the stock exchange, were located in the World Trade Center were facing logistical problems following Wednesday’s violence.

``These teething factors may add to further delays,″ he added.

The center, officially opened on Sunday by the president, was one of 18 buildings damaged Wednesday. Its twin 39-story towers are the tallest in Sri Lanka.

The stock exchange inaugurated computer trading in May, allowing brokers to trade from their offices at the touch of a button. Earlier, brokers were required to be present in the stock exchange for trading.

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