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KSi Daily Report: Friday, 05 February 2016

Both Kina Securities stock indices retreated after POMSoX closed for Friday, weakened by a home stock that fell. The main index KSi slipped a mere 0.24 points (-0.01%) to 3,355.71 points. Likewise, the home index KSHi closed 6.66 points (-0.07%) lower to finish at 9,339.66 points.

Only one stock fell with none that gained for the session.

Credit Corporation Ltd (CCP) was the stock that retreated today, down by a toea to end at K2.04 resulting in both indices to close in red.

Stocks traded however remained unchanged were led by Bank South Pacific Ltd (BSP) still strong at K7.50 followed by Kina Securities Ltd (KSL) also flat at K2.40 and Newcrest Mining Ltd (NCM) at K25.00 unmoved.

Friday’s trading session recorded a combined volume of 3,406 units valued at K10,737.54.

In off-shore news, U.S. stocks registered modest gains in overnight trading, led by advances in the materials and industrials sectors with The Dow Jones Industrial Average gaining 79.92 points, or 0.5%, to close at 16,416.58 points by close. Meanwhile, Japan’s Nikkei share average fell for a fourth day on Friday on concerns that a stronger yen may squeeze exporters’ earnings, while investors awaited U.S. jobs data for clues on the Federal Reserve’s policy outlook. The Nikkei dropped 225.40 points or 1.32% to 16,819.59 points. The Australian share market ended the week with a modest fall as weakness in financial and retail stocks were partly offset by gains by the big miners. The benchmark S&P/ASX200 index dropped 4.2 points, or 0.08% at 4,976.2 points by close of market today.

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