KSi Daily Report: Monday, 31 August 2015

Both Kina Securities Indices were unchanged amid quiet trading on POMSoX for the last trading day of August. The main index or KSi was steady at 3,456.05 points, similarly the home index or KSHi was unmoved at 9,648.78 points at the close.

There were two key stocks traded however remained flat.

Bank South Pacific Ltd (BSP) led the unchanged at K7.40 followed by Credit Corporation Ltd (CCP) registering at K2.40 even.

Monday’s session recorded a light volume of 26,500 shares at a value of K96,100.00.

In US markets, the main indexes spent most of Friday’s session diving in and out of negative territory, as investors seemed undecided on how to interpret comments from Federal Reserve which indicated the central bank is keen on raising rates this year, but provided little clarity on whether it will be in September. The Dow Jones Industrial Average traded in a relatively tight range on Friday, closing off 11.83 points or – 0.1% at 16,642.94 points. The blue-chip index gained 1.1% over the week. In Aisa, Japanese stocks slipped on Monday hurt by soft domestic industrial output data and concerns the U.S. Federal Reserve might yet raise interest rates next month even as anxiety over a China-led global economic slowdown persists. The Nikkei fell245.84 points or -1.28% to 18,859.02 points at close of market, snapping a three-day winning streak. The Australian share market has closed lower, suffering substantial losses after four straight sessions of gains on the back of US markets. At the close on Monday, the benchmark S&P/ASX200 index was 65.30 points or 1.24% lower at 5,198.30 points.

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