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KSi Daily Report: Friday, 29 August 2014

Both Kina Securities indices extended losses ending the last trading day of August in negative territory. The main index KSi fell 7.74 points or 0.21% to 3,732.24 points. Likewise, the home index slumped 134.50 points or 1.67% at 7,904.42 points, slightly below the 8,000 mark.

Two out of seven stocks that traded for Friday’s session lost with no gain recorded.

Bank South Pacific Ltd (BSP) fell 25 toea at K7.20 despite the company’s positive news earlier this week of the half-year profit results, an interim dividend payment and an ongoing share buyback program. City Pharmacy Ltd (CPL) also closed lower by a toea at K1.57.
Stock traded however remained unchanged were Oil Search Ltd (OSH) at K19.15, followed by a financial holding stock Credit Corporation Ltd (CCP) at K2.60. Highlands Pacific Ltd (HIG) and NGIP Agmark Ltd (NGP) ended stable at 15 toea and 79 toea respectively.

Friday’s trading registered a total of 57,413 units worth of K172,970.12.

In markets abroad, U.S. stocks stepped back in overnight trading, with The Dow Jones Industrial Average shedding 42.44 points, or 0.3%, to end at 17,079.57 points with investors blaming the decline on fresh Russian aggression towards Ukraine. Likewise, Japan’s Nikkei share average fell on Friday following tensions in the Ukraine conflict despite domestic investors buying up large-cap stocks limiting losses. The Nikkei dropped 35.27 points or0.23% to 15,424.59 points. The Australian shares followed the downward trend on global markets weakness with the benchmark S&P/ASX200 index falling by 5.80 points to 5,618.60 points by close of Friday trading.

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