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KSi Daily Report: Wednesday, 8 January 2014

Both Kina Securities indices closed higher despite a quiet POMSoX session on Wednesday. The main stocks index, the KSi, advanced 0.73 points (+0.02%) to close high at 3,871.78 points. Meanwhile, the Home index or the KSHi inched up 25.51 points (+0.31%) to 8,206.47 points.

Two stocks were traded today; one up and the other down.

Credit corporation Ltd (CCP) added 10 toea to close strong at K2.60 supported by its share buyback plan.

Bank South Pacific Ltd (BSP) lost a toea to complete at K7.97.

The session recorded a light volume of 7,059 units at a value of K28,607.50.

U.S. stocks rallied overnight, first rally in the new year on a sharp decline in the U.S. trade deficit. The Dow Jones Industrial rose 105.84 points, or 0.6%, to end at 16,530.94 points. Japan’s Nikkei followed the advance Wednesday after strong U. S. trade data, with traders seeing buying from foreign pension funds. The Nikkei rose 307.08 points or 1.94% at 16,121.45 points at close of market. The Australian stocks recovered in the afternoon to close little changed but holding above the key 5300 level. The benchmark S&P/ASX200 index slipped 0.02% or 1 point, to 5,316.00 points.

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