KSi Daily Report: Monday, 13 October 2014

POMSOX trading session was quiet on Monday as there was only one trade completed under a share buyback program. Both Kina Securities indices were unchanged. The main index KSi registered at 3,834.58 points while the Home Index KSHi was stable at 9,570.79 points after Friday’s huge gain.

Bank South Pacific Ltd (BSP) was the only stock traded on Monday. At K7.15 the stock ended flat with light volume of 2,573 units with value of K18,911.55.

In overseas news, after a sharp selloff in U.S. stocks on Friday the main NYSE benchmark indices recorded their deepest weekly declines in more than two years. The Dow Jones Industrial Average dropped 115.15 points or 0.69%, to 16,544.10 points and lost 2.7% over the week. The blue-chip index turned negative for the year and also fell below its key support level. Likewise, Japan’s Nikkei share average fell for a fourth straight day on Monday, hitting a two-month low on concern about the global economy, and falling crude oil prices hurt oil shares. The Nikkei share average ended 178.38 points lower (-1.1.5%) at 15,300.55. 13. The Australian share market has suffered its fifth fall in just six sessions, despite surprisingly positive trade data out of China today. By close of market today the benchmark S&P/ASX200 index was down 32.8 points or 0.63% at 5,155.5 points.

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