KSi Daily Report: Thursday, 21 November 2013

Both Kina Securities indices closed on a mixed note as stocks headed in opposite direction for Thursday’s POMSoX trading session. The Main index or KSi was up by a mere 0.57 points (-0.01%) at 3,832.10 points while the home index or KSHi finished at 8,224.61 points, declining 5.32 points (0.06%).

One stock gained compared to an equal number of loss.

Oil Search Ltd (OSH), the oil and gas stock, collected 1 toea to K17.02.

On the downside, Bank South Pacific Ltd (BSP) closed lower by a toea to K8.00 but the stock’s negative movement weighed on the home index.

City Pharmacy Ltd (CPL) closed steady at K2.60, followed by Credit Corporation Ltd (CCP) at K2.60.

Today trading volume was significant as there were 172,095 shares being transaction with value of K823,357.48.

In overseas news, U.S. stocks closed lower overnight, after Federal Reserve meeting minutes suggested the central bank was looking to slow down its bond-buying program fairly soon. The Dow Jones Industrial Average lost 66.21 points, or 0.4%, to close at 15,900.82. But Japan’s Nikkei share average soared 289.52 points (+1.9%) to six-month highs at 15,365.60 on Thursday despite other Asian bourses retreat , as spurred by plans by a major government fund to invest more of its $2 trillion funds in riskier assets and also helped by a weaker yen spurring exporters higher. Meanwhile, The Australian share market fell due to uncertainty about the US economic stimulus program and a slowdown in Chinese manufacturing activity. The S&P/ASX 200 completed 19.46 points lower at 5,288.30 points today.

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