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KSi Daily Report: Monday, 20 April 2015

The Kina Securities main index opened the week on a negative note as one key POMSoX stock retreated. The KSi fell 50.65 points (-1.31%) to 3,810.52 points. Meanwhile, there was no movement for the locally listed stocks which resulted in the home index the KSHi remaining flat at 9,751.90 points.

Only one stock lost on POMSoX, against none that won.

Oil Search Ltd (OSH) reversed last week’s gains declining 50 toea to close at K16.00, as the dual listed stock in ASX also fell by 3 cents at $8.10.

Meanwhile, all three financial stocks on POMSoX, Bank South Pacific Ltd (BSP), Credit Corporation Ltd (CCP) and Kina Asset Management Ltd (KAM) were traded unchanged for the session at K7.40, K2.55 and K1.00 respectively.

Monday’s trading on POMSoX registered a total volume of 10,911 shares worth K76,424.35.

U.S stocks finished lower as Greek fears and Chinese regulatory changes weighed on sentiment. The Dow Jones Industrial Average sliced 279.47 points or 1.54% to 17,826.30 points. The Nikkei stock average pulled back, settling at 19,613.63, down 39.25 points or 0.20% to a two-week low, on increased profit-taking and heightened concerns over forthcoming earnings results.. Likewise, Australian share market was weaker after weakness in US and European stock markets. The S&P/ASX 200 fell 43.77 points or 0.74% to 5,834.10 points today.

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