KSi Daily Market Report: Wednesday, 04 January 2017

Wednesday’s POMSOX trading session was rather quiet as both stock indices maintained for a second consecutive day. The Kina Securities Main index KSi was steady at 4,523.82 points followed by the Kina Securities Home Index, KSHi, unchanged at 10,628.45 points.
All stocks traded for the day were unmoved.
Bank South Pacific Ltd (BSP) and Oil Search Ltd (OSH) were both evened out at K9.00 and K17.50 flat respectively at the close.
Today’s session registered a total of 6,720 shares worth K156,962.00.
In off-shore market news, U.S stocks started the first trading day on a positive note but closed off of intraday highs as oil prices turned sharply lower, underpinned an early rally. The Dow Jones Industrial Average rose 119.16 points or 0.6% to close at 19,881.76 points. Japanese stocks closed on a positive note on the first trading day of 2017 as investors took heart from upbeat global economic data which came out during Japan’s holidays. The Nikkei share average surged 467.42 points or 2.45% to 19,581.79 points. The Australian stock market is edged higher in choppy trade following the strong gains in the previous session and tracking the late pullback on Wall Street overnight. The S&P/ASX 200 benchmark index added 6.00 points or 0.10% to 5,739.20 points.