KSi Daily Report: Thursday, 30 January 2014

Both Kina Securities indices were stable on Thursday despite active trading on POMSoX. The main index, the KSi, remained at 3,872.99 points while the Kina Securities Home index, the KSHi, was also unchanged at 8,210.38 points at the close.

All stocks that traded on POMSoX for the day were unmoved.

The financial stocks led the unchanged with Bank South Pacific Ltd (BSP), Credit Corporation Ltd (CCP) and Kina Asset Management Ltd (KAM) closing steady at K7.98, K2.50 and K1.10 respectively. New Britain Palm Oil Ltd (NBO) registered a few trades at K15.00 while Oil Search Ltd (OSH) maintained strong at K17.53.

BSP Unsecured notes also recorded a trade today at K28,000.00 flat.

Thursday’s session registered a combined volume of 34,381 shares at K147,848.17.

U.S. stocks fell in overnight trading , extending losses after the Fed announced it will reduce monthly bond purchases. The Dow Jones Industrial Average fell 189.77 points, or 1.2% to 15,738.79, recording its fifth triple-digit loss this month. Japan’s Nikkei share average tumbled 375.17 points or 2.44% to 14,873.03 points after the U.S. Federal Reserve scaled back stimulus amid emerging market turmoil. The Australian sharemarket also closed lower, with the big banks dragging down the market as the region reacted to US stimulus woes. At the close, the benchmark S&P/ASX200 index was 40.9 points, or 0.78% lower at 5,188.10.

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