KSi Daily Report: Friday, 19 May 2017
Friday’s POMSOX trading session edged lower amid a thin trading session as both stock indices declined. The Kina Securities main index KSi slumped 54.53 points or 1.06% at 5,096.61 points and similarly the Kina Securities Home Index KSHi shed 2.63 points or 0.02% to 11,099.20 points.
Oil Search Ltd (OSH) fell by 50toea ending lower at K18.00, followed closely by Highlands Pacific Ltd (HIG) which shed a toea to end at 18toea.
Bank South Pacific Ltd (BSP) was unmoved at K9.54
The day’s trading recorded a light volume of 10,724 shares at K61,620.64.
U.S stocks closed higher following the previous session’s brutal selloff, as positive data tech powers rebounded. The Dow Jones Industrial Average gained 56.09 points or 0.27% at 20,663.02 points. Japanese stocks dipped with investors unsettled by White House turmoil as the Nikkei share average was down 0.25% at 19,507.52 points. The Australian stock market was modestly lower, extending losses from the previous session despite the rebound on Wall Street overnight. The gains by mining stocks were more than offset by weakness in banks and oil stocks as the S&P/ASX 200 benchmark index shed 12.20 points or 0.21% at 5,726.10 points.