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KSi Daily Report: Monday, 02 February 2015

Kina Securities stock indices were positive on the first trading day of February. The main index KSi moved back to 3,591.68, up 94.30 point or 2.70%, recovering about the same amount fell on Friday. However, the Home Index KSHi was unchanged at 9,575.98 points.

Only one stock gained compared to none that lost today.

Positive movement of the Main indices was attributed to the mining stock Oil Search Ltd (OSH) at K17.00, which recovered K1.00, that were gone on Friday, with a total volume of 16,355 units. The over-the-weekend, gains on international crude oil, is adding some incentive the oil stock that is also dual-listed in ASX, which is now about $8.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd were unchanged at K7.35 and K2.60 respectively. Another big miner stock Newcrest Mining Ltd (NCM) ended at K24.00 flat despite recent gains in gold price globally.

The day’s trading session recorded a total of 18,427 shares at a monetary value of K353,855.00.

In the U.S markets, stocks slid in late trading on Friday to end sharply lower after release of disappointing GDP data. The Dow Jones Industrial Average declined 251.90 points or 1.45% to 17,164.95 points. Japanese share prices fell on Monday after economic data from the U.S and China cast shadow on global economic outlook. The Nikkei share average was down by 126.09 points or 0.71% to 17,548.30 points. However, Australian market closed higher ahead of RBA’s interest rates decisions, with the S&P/ASX 200 index adding 37.02 points or 0.66% to 5,625.34 points.

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