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KSi Daily Report: Friday, 27 May 2016

POMSOX trading was quiet for the last trading day of the week with the Kina Securities Index, KSi steady at 4,416.25 points. Likewise, the home index KSHi was also unchanged at 9,299.24 points.

Bank South Pacific Ltd (BSP) was the only stock traded today at K7.65 flat with a mere volume of 1,797 units valued at K13,926.25.

U.S. stocks ended the overnight session little changed, taking a pause after two days of advances. The Dow Jones Industrial Average slipped 23.22 points, or 0.1%, to 17,828.29 points at close after gains in utilities and telecoms were offset by losses in materials and financials sectors. Japanese stocks rose in thin trade on Friday amid steady yen weakness and media reports that the country’s Prime Minister would delay by two years a sales tax hike scheduled to go into effect in April 2017. The Nikkei share average edged up 63.61 points to end the day’s session at 16,830.07 points. Meanwhile, The Australian share market has hit a nine month high as strength in financial stocks drive a third straight day of gains. The benchmark S&P/ASX 200 index was up points, 27.50 points or 0.51% at 5,415.60 points.

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