KSi Daily Report: Wednesday, 11 March 2015

Trading on POMSOX was modest as two stocks were crossed on Wednesday. The Kina Securities main index KSi was unmoved at 3,648.69 points while the Kina Securities home index KSHi was steady at 9,744.14 points.

Two stocks that traded were unmoved.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) both traded at K7.35 and K2.60 flat respectively. The financial stocks were steady supported by their ongoing share buyback programs.

Total shares registered today were 3,421 units at a share value of K8,754.35.

In overseas news, U.S stocks suffered its worst one-day point drop in five months as investors began pricing in a rate hike and mixed economic data. The Dow Jones Industrial Average sliced 332.78 points or 1.85% to 17,662.94 points. Japan’s Nikkei share average rose with better-than-expected machinery orders offsetting the downdraft from weaker U.S markets. The Nikkei share was up 143.64 points or 0.77% to 18,808.75 points. However, Australian shares trimmed hefty losses as weak local economic data raised hopes of a 2015 cut while resources fell as iron ore prices weakened at record lows. S&P/ASX 200 shed 30.99 points or 0.53% to 5,793.20 points.

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