KSi Daily Report: Monday, 18 January 2016

The Kina Securities main index opened the week in thin trade on POMSoX with mild retreat. The Main index, KSi shed 15.16 points or 0.45% lower at 3,359.27 points. Meanwhile the Kina Securities Home Index or KSHi unchanged at 9,433.02 points.

Oil Search Ltd (OSH) was the only stock that traded today. The stock closed 15toea lower at K14.05 points with 16,961 shares done at a value of K238,302.05. In ASX, the dual-listed oil and gas stock fell 32c or 5% to $6.01 as Brent crude touched below $28 per barrel, the lowest in 13 years.

Kina Securities Ltd (KSL) ended at 92c on ASX, down 3c following global stock rout.

In news abroad, U.S stocks cratered on Friday, closing out the worst-ever-two-week start to the calendar year after steep drops in oil prices and renewed Chinese market volatility. The Dow Jones Industrial Average bombed 390.97 points or 2.39% lower to 15,988.08 points. Japanese stocks dived to a one-year low following a big sell-off on Wall Street with the Nikkei share average closing at 16,865.34 points, down 284.77 points or 1.64%. The Australian stock market was notably lower with investors treading cautiously on worries about the global economy and fall in commodity prices. At the close today, the S&P/ASX 200 benchmark index was at 4,858.70 points, down 34.10 points or 0.70%.

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