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KSi Daily Report: Wednesday, 18 January 2017

Wednesday’s POMSOX trading session was rather quiet as both stock indices closed on the red. The Kina Securities Main Index KSi was down by a mere 0.21 points to close at 4,815.04 points. The Kina Securities Home Index KSHi slipped 6.66 points or 0.06% to close lower at 10,621.79 points.

Home-listed financial stock Credit Corporation Ltd (CCP) shed a toea to end lower at K1.87.

Bank South Pacific Ltd (BSP) was the only other stock traded unchanged at K9.00 flat.

The day’s trading recorded a light volume of 12,764 shares worth K75,361.54.

U.S stocks retreated as investors remained in the wake of Trump’s charge of dollar hurting the economy. The Dow Jones Industrial Average slid 58.96 points or 0.3% to close at 19,826.77 points. Japanese stocks turned positive and recovered from a five-week low as the yen weakened against the dollar. The Nikkei share average rose 0.69% or 130 points to 18,860 points. The Australian stock market extended losses on Wednesday from the previous session, following weak cues from U.S and European markets overnight. S&P/ASX 200 benchmark index shed 38.50 points or 0.68% to close at 5,660.90 points.

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