KSi Daily Report: Thursday, 28 August 2014

Kina Securities stock indices gave up most gains from yesterday as POMSoX stocks traded in light volume. The main index KSi gave up 2.16 points or 0.06% at 3,739.98 points while home index KSHi retreated 37.57 points or 0.47% to 8,038.92 points.
Two stocks closed low with none that gained for Thursday’s session.
Stocks that inched lower included a leading financial institution Credit Corporation Limited (CCP) which withdraw 10 toea at K2.60, followed by Pharmaceutical holding company City Pharmacy Ltd (CPL) at K1.58, down a toea.

Oil Search Ltd (OSH) and Bank South Pacific Ltd (BSP) both traded unchanged at K19.15 and K7.45 respectively.

The day’s trading recorded a total of 6,007 units valued at K18,793.60.

New York stocks finished on choppy trades flat in overnight trading with no major U.S economic reports released, amid some earnings reports from companies. The Dow Jones Industrial Average added 15.31 points or 0.09% to end at 17,122.01 points. Japanese stocks weakened as investors grow concern about economic recovery prospects. The Nikkei share average declined 75 points or 0.48% to end at 15,460 points. Australian share market closed lower after falls in most commodity prices after previous day’s impressive gains. Qantas shares gained despite a massive $2.80 Billion loss for 2013. The S&P/ASX 200 benchmark index fell 26.79 points or 0.47% to 5,624.40 points today.

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