KSi Daily Report: Tuesday, 29 September 2015

Both Kina Securities stock indices were in the positive territory amid active POMSoX session Tuesday despite broad drops across regional sharemarkets abroad. The main index, the KSi boosted slightly at the close, up 0.46 points, or 0.01% to 3,408.65 points and similarly, the home index, the KSHi, advanced 28.44 points, or 0.29% to 9,755.41 points.

POMSoX trading registered two gains against one loss today.

The gain was attributable to Oil Search Ltd (OSH) at K15.00 after picking up 20toea with an intraday high at K16.00 against a fall on ASX price. At $7.25 the dual-listed stock went down 26 cents from yesterday. City Pharmacy Ltd (CPL), the pharmaceutical company closed at K1.48, up 9toea, lending a helping hand to both Kina indices.

On the down side, Kina Securities Ltd (KSL) was down 35 toea to K2.30. However, the dual listed financial stock ended flat on the ASX at $1.15.

Other stocks remained unchanged were Credit Corporation Ltd (CCP) at K2.40 and Bank South Pacific Ltd (BSP) at K7.50.

Tuesday’s session recorded a considerable volume of 109,088 shares valued at K550,090.90.

U.S. stocks finished Monday at their lowest levels since late August as concerns about slowing economic growth in China and mixed domestic economic data and a selloff in biotech stocks added to downbeat sentiment. The Dow Jones Industrial Average sank 312.78 points, or 1.9%, to end at 16,001.89 points. In Asia, Japan’s Nikkei Share Average tumbled 714.27 points or 4.05% to an 8-month low of 16,930.84 points on Tuesday on worries following Wall Street’s fall. Likewise, the Australian benchmark S&P/ASX200 index also retreated, down 183.60 points or 3.67% to 4,925.90 points breaching the important psychological 5,000 points level.

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