KSi Daily Report: Tuesday, 18 November 2014

Kina securities stock Indices gave up most of its gains caused by financial & mining stocks that fell during Tuesday’s session on POMSoX. The Main Index KSi declined by 72.42 points (-1.93%) at 3,686.30 points and the same went to the home index KSHi which sliced off 36.16 points (-0.38%) to 9,460.47 points.

Today’s trading session recorded two losses verses nil gains.

Leading the losers was Credit Corporation Ltd (CCP) which withdraw 10 toea to close at K2.50, followed by Oil Search Ltd (OSH) retreating 80 toea at K18.50 after ASX prices dropped further lower at $8.01 by 9 cents (1.11% drop). Both key stocks had attributed to the poor performance of both indices.

Bank South Pacific Ltd (BSP) was the only stock traded unchanged at K7.19.

POMSoX registered a total volume of 37,177 shares valued at K112,341.41.

In markets aboard, U.S. stocks ended an overnight choppy session fractionally higher. US. stocks mostly hovered at the flat line as investors weighed the implications of an economic slowdown in Japan into a recession and weakening crude oil. At close of market the DJIA Index added 13.01 points, or 0.07%, to 17,647.75 points. However, Japanese stocks had their biggest gain in two weeks on Tuesday as investors waited to see if Prime Minister Shinzo Abe will call a snap election and consider fresh steps to support the economy after it slipped into recession in the third quarter. The Nikkei benchmark closed 370.26 points or 2.18% higher at 17,344.06 points. Meanwhile, the Australian shares closed weaker, with falling iron ore, poor sentiment over Japan’s economy and the Murray Inquiry into the financial services industry. The S&P/ASX 200 was down 12.80 points or 0.24% at 5,399.70 points.

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