KSi Daily Report: Friday, 08 January 2016

POMSoX trading session on Friday was modest but Kina Securities indices both ended on negative territories. The main index KSi shed 14.33 points (- 0.41%) to 3,508.32 points. Meanwhile, the home index also declined 98.51 points or 1.03% to 9,501.07 points.

Two out of three stocks that transacted today lost compared to none that gained.

The stocks that lost for the session were bankers, Bank South Pacific Ltd (BSP) at K7.40, down 10 toea and Kina Securities Ltd (KSL) also lower by 10 toea to K2.55 following a weaker ASX price.

Meanwhile, the energy stock Oil Search Ltd (OSH) was the only stock traded even, steady at K15.00.
Total shares traded today was 28,128 units at a share value of K237,461.20.

In off-shore markets, U.S. stocks tumbled and closed near session lows in overnight trading as persistent worries about the health of the Chinese economy and a continued slide in commodity prices sent investors for cover. The Dow Jones Industrial Average dropped 392.41 points, or 2.3%, to 16,514.10 points with 29 of its 30 members in negative territory. In Asia, Japanese stocks fell on Friday, as nervous investors cut their exposure ahead of U.S. jobs. data and a three-day weekend in Japan. The Nikkei share average fell 80.08 points or 0.45% to 17,687.26 points after selling accelerated late in the session, erasing earlier gains that followed a rebound in Chinese markets. The Australian market followed the same downfall amid a volatile day of trading at close of market today. At the close, the benchmark S&P/ASX200 index was down 19.5 points, or 0.39% at 4,990.80 points.

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