KSi Daily Report: Friday, 22 April 2016

Both Kina Securities stock indices managed to complete high on Friday after POMSoX trading closed, reversing yesterday’s losses. The Kina Securities main index, KSi picked up 2.35 points (+0.06%) at 3,852.51 points, similarly the home index or the KSHi rose 6.66 points (+0.07%) 9,112.94 points.

Two stocks gained with no other stocks that changed.

Oil Search Ltd (OSH) led the gains at as the dual listed oil and gas company added a toea at K15.01 with an intraday high of K16.00, following stronger ASX prices. Credit Corporation Ltd (CCP) also gained a toea at K1.69 recovering from previous losses.

Meanwhile, Bank South Pacific Ltd (BSP) was the only unmoved stock at K7.50 flat.

Friday’s trading recorded a total of 39,187 shares valued at K127,149.83.

U.S. stocks closed lower in overnight trading breaking a three-day winning streak, as big declines in defensive sectors such as consumer staples, telecoms and utilities weighed on the main indexes. The Dow Jones Industrial Average dropped 113.75 points, or 0.6%, to 17,982.52 points at close. In Asia, Japan’s benchmark Nikkei index climbed to an 11-1/2 week high after Bloomberg reported the Bank of Japan is considering applying negative rates to its lending program for financial institutions, which helped push the yen to its lowest point since April 6. The Nikkei share average climbed 208.87 points or 1.20% at 17,562.70 points its highest point. Meanwhile, The Australian share market is lower after resource and energy stocks weakened for the first time in four days. The benchmark S&P/ASX200 index was 36.30 points or 0.69% lower at 5,236.40 points.

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