KSi Daily Report: Thursday, 16 July 2015

Both Kina Securities stock indices suffered losses after POMSOX closed on Thursday, as two out of three stocks that traded closed lower. The main index, the KSi slumped 45.05 points or 1.29% to 3,458.69 points. Similarly, the home index or the KSHi moved further lower by 9.85 points or 0.10% lower to finish at 9,736.08 points.

The indices’ decline was attributable to the weak performance of home stocks, which were led by Bank South Pacific Ltd (BSP) falling by a toea to end at K7.42. Likewise, dual-listed oil and gas stock, Oil Search Ltd (OSH) declined 30toea lower to close at K15.00.

Thursday’s session recorded a total volume of 3,036 shares valued at K19,556.80 points.
In markets abroad, U.S. stocks slipped into the red in overnight trading, snapping a recent streak of gains, following reports of violent protests in Greece. The Dow Jones Industrial Average finished down 3.41 points at 18,050.17 points. Earlier in the session, stocks had traded within a choppy, narrow range of gains as Federal Reserve announced that they expected to raise interest rates at some point this year. Meanwhile In Asia, The Nikkei shares rose to a two-week high in early trade in Tokyo on Thursday as overnight comments on U.S. interest rates from Federal Reserve reinforced expectations that the U.S. economy is on track and steadily improving. The Nikkei share average rose 141.79 points or 0.69% to 20,605.12 points. Likewise, the Australian share market has risen on news the Greek parliament has approved a debt deal overnight, including new austerity measures, by close of market today the benchmark S&P/ASX200 index was up 38.30 points or 0.68% at 5,674.50 points.

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