KSi Daily Report: Friday, 18 July 2014

Both Kina Securities stock indices gained territories to end high for Friday’s POMSoX session. The main index KSi collected 1.84 points, or 0.05% to complete at 3,765.75 points, while the Kina Securities home index KSHi recovered 31,94 points, or 0.38% to finish at 8,353.66 points.

One gain was registered on POMSoX against none of the stocks that fell.

Bank South Pacific Ltd (BSP) recouped 6 toea K7.28 amid thin trading volume with the support of the company’s share buyback program. The upward movement had both indices closing in green.

Meanwhile, Credit corporation Ltd (CCP) the only unchanged stock for the session maintained at K2.70.

Today’s trading session recorded a light volume of 6,282 units at a value of K33,366.96.

In overseas news, U.S. stocks ended sharply lower Thursday after a Malaysia Airlines jet was shot down near the Ukraine-Russia border. The Dow Jones Industrial Average dropped 161.39 points, or 0.9%, to 16,976.81, its biggest one-day point decline since May 15 as Airline stocks took a big hit after the jet crash news. Likewise, Japan’s Nikkei share average dropped to a one-week low on Friday and posted its biggest one-day fall in two months as investors turned risk opposed on the crash news. The Nikkei slumped 154.55 points or 1.01% to 15,215.71 points by close of market today. Australian shares managed to close up despite major losses in other markets as the benchmark S&P/ASX200 index went up 9.20 points or 0.17% at 5,531.60 points Friday.

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