KSi Daily Report: Monday, 23 May 2016

Kina Securities Stock indices were unchanged for first trading day of the week. The main index or the KSi remained undisturbed at 4,311.38 points while the Kina Securities Home index, the KSHi was stable at 9,200.74 points.

Stocks that traded for the day were unmoved.

For today’s session, Oil Search Limited (OSH) and Bank South Pacific Ltd (BSP) both maintained a strong hold at K17.00 & K7.65 flat.

Monday’s trading registered a combined volume of 44,491 shares at a value of K352,342.85.

In overseas News, U.S. stocks closed higher on Friday as fears of an interest-rate hike ebbed, The Dow Jones Industrial Average gained 65.54 points, or 0.4%, to finish at 17,500.94 points. Meanwhile, Japanese stocks fell on Monday on fears that the government will proceed with its plan to raise the sales tax next April, risking a further blow to the sluggish economy. The Nikkei share average slipped 81.75 points or 0.49% to end at 16,654.60 points.
The Australian share market is in red territory at close today dragged lower by resource giants Rio Tinto and BHP Billiton and banking stocks. The benchmark S&P/ASX 200 is down 26.10 points or 0.49% at 5,325.20 points despite strong gains on major international equity markets.

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