KSi Daily Report: Monday, 04 July 2016

Monday opened the week on a rather quiet note as both Kina Securities stock indices remained unchanged on the POMSOX trading session. The Kina Securities main index KSi was steady at 4,627.05 points and likewise the Kina Securities Home Index or KSHi was maintained at 9,668.45 points.

There were two stocks that traded unmoved today.

Financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) was evened out at K8.10 and K1.68 flat respectively.

The day’s trading registered a total of 6,802 shares valued at K13,911.90.

In markets offshore, U.S stocks booked a fourth straight daily gain and the Dow and S&P 500 marked their best week this year as stocks clawed some of the losses scored in the wake of tumult following the Brexit. The Dow Jones Industrial Average rose 40.00 points or 0.22% to 17,906.00 points. Japanese stocks gained on Monday, rising for a sixth day as global worries over Brexit issues, with trading volume extremely thin due to a U.S holiday. The Nikkei share average rose 93.32 points or 0.60% to 15,775.80 points. The Australian share market recovered from a nervous start to close higher despite the weekend’s inconclusive federal election, boosted by the prospect of economic stimulus after the Brexit. The S&P/ASX 200 benchmark index was up 35.2 points or 0.67% to 5,281.80 points.

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