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KSi Daily Report: Friday, 29 July 2016

Friday’s POMSOX trading closed amid an active session as one stock indice gained. The Kina Securities main stock index, KSi was up 1.09 points or 0.02% to 4,645.30 points. The Kina Securities Home Index or KSHi however, was maintained at 9,828.03 points.

One out of four stocks gained compared to nil losses.

Dual-listed banking and financial stock Kina Securities Ltd (KSL) collected K1.00 to close high at K2.51.

Other stocks traded unchanged were Bank South Pacific Ltd (BSP) and City Pharmacy Ltd (CPL) at K8.27 and K1.15 flat respectively. Followed closely by energy stock Oil Search Ltd (OSH) at K17.12.

Today’s trades recorded a total of 45,767 units worth K709,526.44.

In overnight trading, US stocks closed little changed following a mixed bag of earnings reports and a slight reprive from a close correlation with declining oil prices. The Dow Jones Industrial Average declined 15.82 points or 0.1% to close at 18,456.35 points. Japan’s Nikkei share average tumbled and stayed volatile after the BOJ policy easing fell short investors’ high expectations, but financial stocks outperformed as the central bank kept the negative interest rate unchanged. The Nikkei was up 92.43 points or 0.56% to 16,596.27 points. The Australian share market was flat as investors were cautious over hefty stimulus package from BOJ. The benchmark S&P/ASX 200 index was up 2.0 points or 0.04% to 5,558.60 points.

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