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KSi Daily Report: Monday, 01 August 2016

The first day of the month of August opened on a positive note as both Kina Securities indices gained during Monday’s POMSOX trading session. The Kina Securities main index KSi collected 3.45 points or 0.07% to 4,648.75 points. Likewise, the Kina Securities Home Index KSHi advanced 13.33 points or 0.14% to 9,841.36 points.

Two out of three stocks that traded today gained.

Home-listed financial stock Credit Corporation Ltd (CCP) was the winning stock, closing 2toea higher at K1.70.

Stocks traded however remained unchanged were Bank South Pacific Ltd (BSP) at K8.27 flat.

On the downside, energy stock Oil Search Ltd ended 85toea lower at K17.15.

Today’s trading transacted a total of 10,034 units valued at K28,344.46.

In offshore news, U.S stocks ended the month on a high note, with the S&P 500 closing just a few points off a record level. The Dow Jones Industrial Average climbed 78 points or 0.42% to 18,440.00 points. Japan’s Nikkei share average erased earlier losses end edges up as a surge in the yen slowed. The Nikkei gained 66.50 points or 0.50% to 6,710.00 points. The Australian share market has closed at its highest point in a year despite running out of steam in late trading, partly driven by expectations of an interest rate cut. The benchmark index S&P/ASX 200 was up 25 points or 0.45% at 5,587.40 points.

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