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KSi Daily Report: Monday, 03 October 2016

The first trading day of October saw both Kina Securities stock indices closing lower attributed by a major home-listed stock. The Kina Securities main index KSi was down 1.22 points or 0.03% to 4,768.60 points. Likewise, the Kina Securities Home Index KSHi shed 6.66 points or 0.06% to 10,739.66 points.

Two stocks fell versus another that gained.

Bank South Pacific Unsecured Notes (BSPHA) gained K2,000.00 closing higher at K27,000.00.

Financial stock Credit Corporation Ltd (CCP) declined by a toea to close lower at K1.84. The company also recently announced the Share Buyback program increase from to K1.80 to K1.85. Oil Search Ltd (OSH) also closed a toea lower at K17.01.

Meanwhile, Bank South Pacific Ltd (BSP) was the only stock unmoved at K9.10.

Monday’s trading session recorded a total of 10,412 shares valued at K1,158,513.52.

U.S stocks closed higher in overnight trading, but off their session highs, boosted by a double-digit rally in Deutsche Bank AG shares, recovering from brutal losses in the previous session. The Dow Jones Industrial Average gained 164.70 points or 0.9% to finish at 18,308.15. Japanese stocks rose as global risk asset markets took over on relief over Deutsche, triggering a relief bounce in financial sector shares as the Nikkei benchmark index rose 0.9% to 16,598.67 points. In the Australian share market, there were strong gains among financial and energy stocks drove the share market higher despite lower trading volumes as most states break for a public holiday. The S&P/ASX 200 benchmark index was up 42.6 points at 5,478.5 points.

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