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KSi Daily Report: Friday, 12 August 2016

Both Kina Securities stock indices retreated after POMSoX closed for Friday, weakened by a home stock that fell. The main index KSi slipped 1.33 points or 0.03% to 4,709.66 points. Likewise, the home index KSHi closed 6.67 points (-0.07%) lower to finish at 10,034.60 points.

The indices’ decline was attributable to weakness in Credit Corporation Ltd (CCP) which lost 1 toea to K1.65. CCP was the only stock traded today with a total volume of 16,206 units valued at K26,739.90.

In off-shore news, U.S. stocks climbed to record levels in overnight trading, boosted by a rally in oil prices as well as upbeat economic data. The Dow Jones Industrial Average gained 117.65 points, or 0.6%, to 18,613.31 points. Japan’s Nikkei share average rose on Friday to log a robust weekly gain, as records levels hit on Wall Street and a weaker yen lifted sentiment. The Nikkei ended up 184.80 points or 1.1% at 16,919.92 points, gaining 4.1% for the week. Meanwhile, The Australian share market has closed only modestly higher, despite US markets hitting record levels overnight, weighed down by weakness from market heavyweights Westpac and Telstra. The benchmark S&P/ASX 200 index was up 22.9 points, or 0.42% at 5,530.9 points at close of market today.

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