KSi Daily Report: Monday, 29 February 2016

The Kina Securities main index opened the week on a positive note as one key mining stock advanced. The KSi collected 19.20 points (+0.57%) to 3,363.14 points and the Home Index or KSHi maintained at 9,126.81 points.

Three stocks were traded. Only one stock gained on POMSOX, against none that lost.

The Index advances were mainly attributed to the strong performance of dual-listed mining stock Oil Search Ltd (OSH) that rose 19toea to close at K14.20.

Monday’s trading on POMSOX registered a combined volume of 13,308 shares worth K107,101.70.

U.S stocks closed mostly lower after a choppy trading session on Friday as U.S fourth-quarter GDP was unexpectedly revised upwards. Dow Jones Industrial Average fell 57.32 points or 0.34% to 16,639.97 points. Japanese stocks dropped as the dollar slipped against the yen and investor sentiment was hit by falls for Chinese shares. Japan’s Nikkei share average declined 161.65 points or 1.00% lower to 16,026.76 points. The Australian share market closed flat after the banks lost most of their early gains as China’s Shanghai Composite fell more than 3 per cent. Benchmark index S&P/ASX 200 fell 0.94 points or 0.02% to 4,880.90 points.

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