KSi Daily Report: Monday, 27 January 2014

POMSoX opened the week on a quiet note , having registered only one trade flat. The Kina Securities main index, the KSi, was unchanged at 3,869.02 points similarly, the Home index, the KSHi, was also even at 3,210.38 points.

Credit Corporation Ltd (CCP) was the only stock traded for the session at K2.60 unmoved supported by its ongoing share buyback plan, registering a mere volume of 328 shares valued at K852.80.

In overseas news, U.S. stocks finished the week with deep losses as investors fled equities and emerging-markets currencies on concerns about a taint effect from China’s manufacturing slowdown. The Dow Jones Industrial Average dropped 318.24 points, or 1.96%, to 15,879.11 and lost 3.5% over the week, its worst weekly percentage decline since 2011. Likewise, Japan’s Nikkei average slumped 385.83 points or 2.51% lower at 15,005.73 points on Monday as the yen soared and global equities dropped on concerns about a selloff in emerging-market assets, dragging down futures and index-heavyweight stocks. Meanwhile, The Australian stock market closed to observe Australia Day, normal trading will resume tomorrow.

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