KSi Daily Report: Monday, 01 June 2015

Both Kina Securities stock indies opened the month of June trading on negative note amid a quiet trading session on POMSoX. The main index or the KSi was down by 52.20 points or 1.45% at 3,555.21 points and the home index or KSHi was lower by 49.25 points (-0.50%) at 9,759.21 points.

Two stocks lost compared to nil gains for Monday’s session.

The loss was attributed to key stocks Bank South Pacific (BSP) which closed 5 toea lower at K7.40 and Oil Search Ltd (OSH) at K16.00 declining 50 toea by close.

POMSoX registered a total volume of 12,297 shares valued at K95,727.80.

In Overseas news, U.S. stocks closed lower on Friday after a string of weak economic reports, finishing the week with modest losses. The Dow Jones Industrial Average was 115.44 points, or 0.6% lower at 18,010.68 points and ended the week 1.2% lower. Japan’s Nikkei share average fell on Monday morning, imperilling an 11-day winning streak, after U.S. stocks suffered as weak economic data dented investor sentiment, triggering profit-taking on exporters. However, losses were limited after strong Japanese corporate spending data supported the mood, with the Nikkei benchmark not moving away much from its 15-year highs and closed on its 12-day winning streak. The Nikkei collected 6.72 points (+0.03%) to 20,495.73 point in late afternoon trade. The share market is sharply lower as investors react to disappointing economic data from the US, and take a cautious approach ahead of the release of important local news. The share market on Monday saw the benchmark S&P/ASX200 index move lower by 49.50 points (-0.86%) at 5,693.9 points.

Online banking