KSi Daily Report: Wednesday, 05 November 2014

The Kina Securities main index gave up yesterday’s gains after POMSOX trading ended on Wednesday. The KSi shed 10.75 points or 0.28% to 3,793 points while the home index was flat at 9,877.16 points.

Wednesday’s session recorded one loss with nil stock that gained.

Oil Search(OSH) fell off 10 Toea to K19.15, following drop of 2% on ASX for the dual-listed stock today due to fallout on international crude price in recent weeks.

The financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) were flat at K7.12 and K2.60 respectively. City Pharmacy Ltd (CPL) ended even at K1.44.

A total of 15,564 units traded were worth K196,808.68 for today’s session.

In New York, U.S stocks ended lower amid oil and global growth concerns in overnight trading as steep losses in energy companies’ stocks weighed on the main benchmark. However, the Dow Jones Industrial Average managed to climb 17.60 points or 0.10% to 17,383.84 points gaining on likely Republican Senate Control. Asian stocks slipped from a six-week high after more soft economic data from China. In Japan, the Nikkei share average was able to add 75 points or 0.44% to 16,937 points as the yen weakened. Australian sharemarket ended slightly lower on further weakness of oil prices despite positive CBA’s results. The benchmark S&P/ASX 200 index shed 2.05 points or 0.04% to 5,517.88 points today.

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