KSi Daily Report: Thursday, 07 July 2016

Thursday’s close on POMSoX was flat with thin volume with both Kina Securities Stock indices stayed unchanged. The main index, the KSi, was stable at 4,628.60 points while the Kina Securities Home index or the KSHi held at 9,717.70 points even.

Bank South Pacific Limited (BSP) was the only traded stock today, closing unchanged at K8.15 with a total of 312 shares at a value of K2,542.80.

U.S. stocks shook off worries tied to the U.K.’s vote late last month to exit the European Union closed higher in overnight trading. The health-care and consumer discretionary sectors led gains, while sectors considered defensive, such as telecoms and utilities, declined. The Dow Jones Industrial Average gained 78 points or 0.44% at 4,640.21 points. Meanwhile, Japan’s Nikkei share average fell for the third straight session on Thursday, losing 102.75 points or 0.67% to 15,276.24, hurt by renewed strength in the yen as Brexit fears have resurfaced. The Australian share market has snapped a two day losing streak despite the nation’s triple A credit rating came under threat. The benchmark S&P/ASX 200 index rose by 30.40 points or 0.58% as 11 of the market’s 12 sectors gained ground following a positive session on Wall Street after the Federal Reserve said it wouldn’t raise interest rates soon.

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