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KSi Daily Report: Wednesday, 15 February 2017

Wednesday’s session on POMSOX saw the Kina Securities main index, the KSi, edged slightly lower, down 0.08 points to 4,816.96 points. The home Index, KSHi, remained at 10,684.94 points.

One stock gained compared to an equal number of loss.

Oil Search Ltd (OSH), the oil and gas stock, collected 50toea to close back up at K17.00.

Meanwhile, Dual-listed banking and financial stock Kina Securities Ltd (KSL) closed 10 toea lower to end at K2.60 amid a considerable trading volume.

Credit Corporation Ltd (CCP) was flat at K1.95.

In overseas news, U.S. stocks notched a fourth straight record in overnight trading, with a rally in banks after the Federal Reserve signalled that the central bank could gradually raise interest rates sooner rather than later. The Dow Jones Industrial Average gained 92.25 points, or 0.5%, to close at a record 20,504.41, with 23 of the 30 blue-chip components trading higher. Japan’s Nikkei Stock Average was recently up 1.2%, rebounding from a Tuesday afternoon selloff that left the index down 1.2% while the yen gained. Stocks in Australia showed strength Wednesday. The S&P/ ASX 200 rose 0.9% as Commonwealth Bank posted a record fiscal first-half profit and raised its dividend.

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