Sri Lankan shares snap five-day gaining streak as industrials drag

Sri Lankan shares closed lower on Monday, snapping a five-day winning streak, dragged down by losses in industrial shares.

* The CSE All-Share index, which closed at a record high in the previous session, dropped 0.41% to 8,894.44 points.

* Last week, S&P Global cut Sri Lanka's CCC+ sovereign rating outlook to "negative" from "stable", warning the government may find it increasingly difficult to finance itself over the next 12 months. 

* Conglomerate Expolanka Holdings Plc was the top drag, falling 4.9%.

* The country on Friday extended its lockdown, which was to end on Aug. 30, to Sept. 6.

* Twenty-nine stocks hit fresh highs, while 30 hit new lows on the main exchange, according to Refinitiv Eikon data.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Vinay Dwivedi) ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))