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KSi Daily Report: Monday, 05 September 2016

Monday’s POMSOX trading session saw both Kina Securities Stock Indices closed positively. The Kina Securities main index KSi was up 1.55 points or 0.3% to 4,804.66 points and likewise the Kina Securities Home Index KSHi gained 49.25 points or 0.48% to 10,347.20 points.

One out of three stocks traded today gained compared to nil losses.

Home-listed banking and financial stock Bank South Pacific Ltd (BSP) added 5toea to end high at K8.80.

Other stocks traded unmoved were Credit Corporation Ltd (CCP) and Oil Search Ltd (OSH) at K1.68 and K17.50 flat respectively.

The day’s session recorded a total of 11,093 shares at a monetary value of K69,742.20.

U.S stocks finished higher after the closely watched August jobs report came in weaker than Wall Street’s consensus estimate, suggesting Feds my hold off on interest rate hikes. The Dow Jones Industrial Average rose 36.00 points or 0.19% to 18,516.00 points. Japan’s Nikkei climbed to more than a three-month high as a weaker yen lifted hopes that exporter’s earnings will recover after data showed slower than expected U.S jobs growth. The Nikkei rose 1.3% to 17,142.32 points. The Australian stock market advanced following gains on Wall Street after weaker than expected U.S jobs data raised hopes that the Feds refrain from raising interest rates. The benchmark index S&P/ASX 200 added 50.44 points or 0.94% to 5,423.20 points.

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