KSi Daily Report: Wednesday, 26 October 2016

Wednesday’s POMSOX trading session closed lower as both Kina Securities stock indices edged lower. The Kina Securities main index KSi shed 0.31 points or 0.01% to 4,763.76 points and likewise the Kina Securities Home Index KSHi declined 9.85 points or 0.09% to 10,629.25 points.

Banking and financial stock Bank South Pacific Ltd (BSP) attributed to the negative movement of the indices, as the stock ended a toea lower at K8.96.

Meanwhile other stocks traded unmoved were led by Credit Corporation Ltd (CCP) at K1.90, followed by Highlands Pacific Ltd (HIG) and Oil Search Ltd (OSH) at 18toea and K17.50 flat respectively.

Today’s session registered a total combined volume of 120,854 shares valued at K133,917.98.

U.S stocks closed lower as earnings as the latest corporate results raised concerns about whether the market levels given the pace of economic activity. The Dow Jones Industrial shed 25.00 points or 0.14% to 18,072.00 points. Japan’s Nikkei share average pared earlier losses and edged up with weak yen shoring up market sentiment with the benchmark up 26.59 points or 0.15% to 17,391.84 points. The Australian share market was notably lower following the negative lead from Wall Street and lower crude oil prices as investors digested local inflation data. The benchmark S&P/ASX 200 was down 74.90 points or 1.38% to 5,367.90 points.

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