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KSi Daily Report: Wednesday, 01 June 2016

Kina Securities main index opened the month of June on a positive note on POMSoX Wednesday. The KSi collected 50.54 points (+1.17%) at 4,366.97 points however the home index or KSHi remained unchanged at 9,339.22 points at close.

There was a single gain compared to no losses.

Oil Search Ltd (OSH) was the sole winner for the session closing higher at K16.50 after adding 50 toea.

Meanwhile, Bank South Pacific Ltd (BSP) traded unchanged at K7.75 flat.

Wednesday’s trading recorded a mere volume of 2,175 shares worth K34,216.25

U.S. stocks closed lower in overnight trading after stronger than expected economic data raised the likelihood of a summer rate hike from the Federal Reserve. The Dow Jones Industrial Average fell 86.09 points, or 0.5%, to close at 17,787.13 points. Japan’s benchmark Nikkei share average extended its earlier losses after the yen built on its gains, with the U.S. dollar slipping below 110 yen, hurting the profit outlook for exporters and other Japanese shares that benefit from a weaker currency. The Nikkei share average slumped 279.25 points or 1.62% lower at 16,955.73 points. Similarly, The Australian share market remains lower despite a slight boost from better than expected economic growth figures. The benchmark S&P/ASX200 index was down 55.40 points, or 1.03% at 5,323.20 points at close of market today.

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