KSi Daily Report: Wednesday, 02 September 2015

POMSOX stocks closed Wednesday’s trading session on a quiet note as only three stocks traded flat on thin volume. The Kina Securities Main index or the KSi was undisturbed at 3,455.14 points. Likewise, the Kina Securities Home Index, KSHi was stable at 9,619.92 points

Bank South Pacific Ltd (BSP) was traded at K7.40 and Credit Corporation Ltd (CCP) at K2.40 unchanged respectively. Followed closely by pharmaceutical stock City Pharmacy Ltd (CPL) evenly ended at K1.35.

The day’s trading registered a low volume of 7,160 shares worth K17,587.70.

In offshore market news, U.S stocks suffered their third-worst loss of the year as part of global rout sparked by a new round of weak Chinese economic data. The Dow Jones Industrial Average plunged 469.68 points or 2.84% to 16,058.35 points. Japanese stocks rose in volatile trade as investors picked up bargains, although sentiment remained fragile as lingering concerns about China’s economy dented global equities. The Nikkei share average declined 98.86 points or 00000.54% to 18,066.83 points. Likewise, Australian share market continued to tumble with lingering concerns about China’s economic growth, but disappointing Australian growth figures had little immediate impact on investors. S&P/ASX 200 fell 13.81 points or 0.27% to 5,082.60 points.

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