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KSi Daily Report: Friday, 24 January 2014

POMSOX trading closed the week on a negative note with the Kina Securities main index or the KSi ending lower by a small margin of 0.87 points or 0.02% lower at 3,869.02 points Meanwhile the Home Index or KSHi was unmoved at 8,210.38 points.

One stock fell while none others gained

Oil Search Ltd (OSH) was the only stock that traded lower at K17.52 , down a toea.

Bank South pacific Ltd (BSP) & Credit Corporation Ltd (CCP), the two financial holding companies finished at K7.98 and K2.60 respectively, followed by City Pharmacy Ltd (CPL) that was flat at K1.95 even.

BSP unsecured notes (BSPHA) was traded at K28,000.00, unchanged during the session.

Friday’s session registered a collective volume of 36,790 shares at a value of K118,750.10.

In overseas, U.S. stocks closed sharply lower in overnight trading as weak economic data from China prompted investors to sell resource stocks and emerging-markets assets and seek safety in bonds, gold, and high-dividend paying sectors. The Dow Jones Industrial Average fell to a five-week low, shedding 175.99 points, or 1.08%, to 16,197.35. In Asia, Asian stocks extend loss as credit risk rises. Japan’s Nikkei share average slumped 304.32 points or 1.94% at 15,391.56 points on Friday. The Australian share market closed lower, dragged down by big banks, and the S&P/ASX 200 index closed 22.1 points, or 0.42% lower at 5,240.90 points. The Australian dollar dropped below 87 U.S. cents for the first time since July 2010 after China’s bank regulator ordered regional offices to increase scrutiny of credit risks in the coal-mining industry.

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