KSi Daily Report: Thursday, 20 August 2015

The POMSoX sharemarket slid lower today in reaction to the sell-down in most mining stocks in ASX. Both Kina Securities stock indices headed negatively. The main index KSi was down 101.20 points or 2.91% to end at 3,376.80 points. Likewise, the Kina Securities Home Index KSHi fell 4.83 points or 0.05% to 9,664.70 points.

Four stocks were traded, with one retreated against none that gained.

Oil Search Ltd (OSH) closed down by K1.00 to K14.00 as the dual-listed stock on ASX fell 0.28 to $6.26 following the global drop in crude oil by almost $2.00 per barrel overnight in New York.

Other Stocks remained unchanged. Bank South Pacific Ltd (BSP) was flat at K7.40. Credit Corporation Ltd (CCP), K2.45. Kina Securities Ltd (KSL) was not traded for the second consecutive day and stayed at K2.70. In ASX , it closed at $1.25, no change.

POMSoX recorded a light volume of 28,729 shares valued at K104,473.40.

U.S stocks ended overnight trading session sharply lower as losses in the energy sector plunged to new lows. Dow Jones Industrial Average sliced 162.61 points or 0.93% to 17,348.73 points. Similarly, Japanese stocks fell for a third day to a three-week low on worries about China’s economy and Wall Street weakness. The Nikkei Share Average slumped 118.63 points or 0.59% to 20,104 points. In Australia, the S&P/ASX 200 fell 103.99 points or 1.93% to 5,276.20 points, weighed heavy falls by energy producers, miners and the big banks.

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