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KSi Daily Report: Friday, 04 December 2015

Friday session on POMSoX saw the Kina Securities main Index, the KSi, dropping 1.01 points or 0.03% ending at 3,561.58 points caused by a key stock that weakened. The home index, KSHi, remained at 9,598.65 points.

There was a stock that fell, while no other stocks advanced today.

Oil Search Ltd (OSH), the oil and gas company declined a toea to K16.00. The dual-listed stock in ASX also fell, down 15 cents at $7.95.

Credit Corporation Ltd (CCP) and Bank South Pacific Ltd (BSP) ended at K2.30 and K7.45 respectively. CCP today announced not to continue with the on-market buy-back of its shares effective today.

The day’s session recorded a total volume of 73,284 shares at a value of K175,444.65.

U.S. stocks sold off in overnight trading after the European Central Bank unveiled a smaller-than-expected expansion of its monetary stimulus program. The Dow Jones Industrial Average dropped 251.74 points, or 1.4%, to 17,477.67 points. Likewise, Japanese stocks fell on Friday, triggering a broader sell-off after the dollar weakened against the yen. The Nikkei share average slumped 435.42 points or 2.18% to 19,504.48 points, suffering its biggest daily drop since Sept. At the close on Friday, the benchmark S&P/ASX200 index was down 76.1 points, or 1.46% at 5,151.60 as the Australian shares followed the global downward trends.

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