KSi Daily Report: Wednesday, 30 March 2016

Wednesday’s POMSOX trading was quiet as only one stock traded but stayed unchanged for the session. The Kina Securities Main Index KSI remained at 3,343.94 points while the Kina Securities Home index KSHi ended at 9,126.81 points.

Bank South Pacific Ltd (BSP) was the only stock transacted today at K7.49 with a volume of 2,348 units valued at K17,586.53.

U.S. stocks reversed early losses, finishing in positive territory in overnight trading after Federal Reserve emphasized that policy makers would take a cautious approach to raising interest rates. The Dow industrials Average gained 98.27 points, or 0.6%, to 17,633.66 points. However, in Asia the Japanese Nikkei share average edged down on Wednesday as the dollar dropped against the yen after U.S. Federal Reserve called for caution on raising interest rates. The Nikkei dropped 206.73 points or 1.21% at 16,896.80 points. Meanwhile, The Australian share market has closed slightly higher as weakness among the banks and resources companies almost offset gains in other sectors. At close of market today the benchmark S&P/ASX200 index was up 5.80 points, or 0.12%at 5,010.30 points.

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