KSi Daily Report: Thursday, 07 January 2016

Thursday’s POMSOX trading session was thin but Kina Securities main stock index advance contributed by a key mining stock. The Main Stock index KSi rose 30.35 points or 0.87% to 3,522.65 points, despite a broad sell-off in foreign bourses on Chinese Yuan devaluation and fallen global oil price. Meanwhile, the Kina Securities Home Index or KSHi was maintained at 9,599.58 points.

Only two stocks traded as one rose compared to nil loss.

A dual-listed oil and gas stock Oil Search Ltd (OSH) gained 20toea to close higher at K15.00. While on ASX, the same stock retreated 29c to $6.33.

Bank South Pacific Ltd (BSP) was the only other stock that , ending at K7.50, the price remained flat.

Total shares traded today were 1,267 units valued at K14,497.50.

U.S stocks stumbled on the back of troubling data on China’s economy with reports of North Korea bomb tests rattling markets. The Dow Jones Industrial Average slumped 252.15 points to 16,906.51 points or 1.47%. Japanese stocks fell after China weakened the Yuan, sparking a sharp strengthening of the yen hurting exporters and blue chips. The Nikkei share average declined 384.80 points or 2.12% to 17,806.52 points. Australian stocks worsened in the mining and energy sector after Shanghai shares hit the daily downward limit which led to suspension for the Chinese bourse for the second time this year. The benchmark index S&P/ASX 200 dropped 112.79 points or 2.20% to 5,10.34 points.

Online banking



Apply Online