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KSi Daily Report: Monday, 12 September 2016

Monday’s POMSOX trading session saw both Kina Securities Stock indices closing on the red attributed by the decline of a home-listed stock. The Kina Securities main index KSi was down 0.30 points (-0.01%) at 4,804.36 points and similarly the Kina Securities Home Index KSHi slipped 9.65 points (-0.09%) to 10,337.55 points.

One out of three stocks declined compared to nil gains.

On the downside, Agmark NGIP Ltd (NGP) fell by 10toea to close lower at 60toea.

Stocks however traded unmoved included financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K8.80 and K1.68 flat respectively.

In other announcements, Oil Search Ltd (OSH) announced its dividend distribution of 10toea ordinary fully paid with payment date on the 27th of September, 2016.

The day’s trading transacted a total of 10,422 shares valued at K18,492.96.

U.S stocks suffered the worst slide since the U.K’s brexit issue, logging in nearly a 400-point drop as rate –hike fear gripped Wall Street. The Dow Jones Industrial Average shed 79.00 points or 0.44% to 17,888.00 points.
Japanese stocks posted their biggest decline in more than a month after comments by U.S Fed’s sparked fears of a rate hike, weighing on shares and other risk assets globally. The Nikkei share average slumped 292.84 points or 1.73% to 16,672.92 points. The Australian share market fell to its lowest level in two months, with all sectors closing in the red driven by fears of a Fed interest rate hike.

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