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KSi Daily Report: Friday, 01 August 2014

POMSoX opened the month of August on a quite note with both Kina Securities indices managing to close high. The Main Index KSi was up by 3.99 points or 0.11% at 3,762.64 points likewise the home index or KSHi collected 69.21 points or 0.83% at 8,386.34 points.

Only one stock gained with no other trades recorded.

The sole trader and winner for the session was Bank South Pacific Ltd (BSP) advancing 13 toea to K7.3, aided by the Company’s share buyback. The stock registered a combined volume of 3,106 units valued at K22,829.10 for Fridays trading session.

In overseas shares, U.S stocks skidded more than 300 points in its biggest one-day drop in six months. Investors weighed the implications of robust economic growth and signs of rising wage inflation on Federal Reserve policy ahead of the key monthly jobs report on Friday. The Dow Jones Industrial Average slumped 317.06 points or 1.88% to 16,563.30 points. Asian stocks dropped extending the biggest global rout in six months to a one-week low on Friday, hit by the concern that U.S interest rates could rise sooner than expected. The Nikkei share average ended 98 points or 0.63% lower to 15,523 points. Australian shares closed lower amid global jitters following the lead from Wall Street. The benchmark index S&P/ASX 200 declined 76.52 points or 1.36% to end at 5,556.40 points today.

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