KSi Daily Report: Thursday, 10 October 2013

Trading was quiet on POMSoX for Thursday with both Kina Securities Stock indices staying unchanged for third straight session. The main index, the KSi, was stable at 3,955.08 points while the Kina Securities Home index or the KSHi held at 8,327.85 points.

Bank South Pacific Limited (BSP) ended steady at K8.03 followed by the miners, Marengo Mining Ltd (MMC) and Oil Search Limited (OSH) at 21 and K16.05 respectively. This were the only three stocks traded for the Thursday session.

A low volume of 9,305 units was recorded with a monetary value of K3,269.71.

U.S stocks improved overnight with the ongoing fiscal impasse in the U.S that remained with investor’s concerns that deadline could be passed to raise the debt ceiling by Washington. The Dow Jones Industrial Average gained 26.45 points or 0.18% closing at 14,803.00 points. Asian markets proved resilient against a backdrop of Wall Street declines, with regions more receptive to good news. Japan’s share average gained 158.87 points (1.12%) closing the market at 14,194.70 points. Australian S&P/ASX 200 fell 5.85 points or 0.11% ending at 5,147.14 points as jobless rates unexpectedly declined in September.

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