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KSi Daily Report: Wednesday, 21 December 2016

Both stock indices edged lower today amid thin trading on Wednesday’s POMSOX session. The Kina Securities main index KSi shed 0.93 points or 0.02% to 4,814.75 points and similarly the Kina Securities Home Index slipped 29.17 points or 0.27% to 10,612.61 points.

Bank South Pacific Ltd (BSP) attributed to the negative movements in the indices as the stock fell a toea to close lower at K8.99.

Meanwhile, banking and financial stock Kina Securities Ltd was the only other stock traded unchanged, evening out at K2.70 flat.

Total trades registered were 2,042 shares valued at K13,323.68 at the close of market.

In overseas news, U.S stocks finished higher in overnight trading, led by a rally in bank stocks as the Dow Jones Industrial Average finished high by 90.95 points or 0.46% to 19,974.14 points. Japan’s Nikkei share average edged up to a one-year peak in thin trading ahead of the holidays edging up to 13,917.58 points. The Australian stock market was modestly higher in investors resorting to bargain hunting following record highs overnight on Wall Street. The S&P/ASX 200 added 31.00 points or 0.55% to 5,622.10 points.

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