KSi Daily Report: Friday, 10 November 2017

The week closed on thin trading as one stock index edged higher while another maintained on Friday’s POMSOX trading session. The Kina Securities main index KSi was up 1.08 points or 0.02% to finish at 5,289.48 points while the Kina Securities Home Index KSHi was steady at 11,047.53 points.

Oil Search Ltd, the dual-listed energy stock gained a toea to close at K17.82.

Other stocks that traded unchanged included Bank South Pacific Ltd (BSP) and Newcrest Mining Ltd (NCM) at K9.51 and K54.00 flat respectively.

A thin volume of 2,714 shares were transacted at a valued amount of K34, 955.97.

U.S stocks closed lower in overnight trading in their worst session in two weeks with the Dow snapping a seven-day win streak on worries over a possible delay in much-anticipated corporate tax cut. The Dow Jones Industrial Average fell 101.42 points or 0.4% to 23,461.94 points. Japan’s Nikkei share average fell, ending the day down 0.8% to close at 22,681.42 points. In Australian stock market, shares ended the week on a sour note but remained comfortably above the 6000 point threshold reached on Tuesday to hover around post-GFC highs. Miners and energy stocks reversed course dragging the S&P/ASX 200 down 20 points or 0.3% lower to 6,029 points.

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