Briefing 2023-02-11

Profit-booking pulls stock down

Stocks extended the losing streak for a second straight week to Thursday as the risk-averse investors opted to book profit on quick-gaining issues while some were busy rebalancing their portfolios based on the latest quarterly earnings results. The dismal financial performance of most listed companies prompted investors to continue reshuffling their portfolios while some others took positions in selective issues that posted profit growth in the latest quarter, market operators say. Page 9

Comilla beat Rangpur

Comilla Victorians dominated Rangpur Riders in their final match of the league phase of the ongoing Bangladesh Premier League (BPL) on Friday, securing a decisive 70-run victory in Mirpur in the city. Victorians' victory in their final league phase has solidified their position in second place on the points table. Page 13

Spy balloon not major security breach: Biden

President Joe Biden, under fire from some lawmakers, said on Thursday he did not view a Chinese spy balloon that transited the United States before it was shot down in the Atlantic Ocean to have been a major security breach. Page 14