Monday’s trading session saw both Kina Securities stock indices close on the downside after quiet trading. The main index or the KSi was down -0.44 points or -0.01% at 5,573.45 points. The home index KSHi dropped -13.33 points or -0.12% to 10,919.99 points.
A Financial lender Credit Corporation Ltd (CCP) was the only stock traded today, shedding 0.02 toea to close at K1.62.
In the markets abroad, the US stock market saw continued rally with record closing highs on Friday as stocks continued to ride a wave of optimism as fourth-quarter earnings season got underway. The US tax overhaul will possibly help future profits by reducing corporate tax bill and stimulating more business. Investment guru Warren Buffet said on CNBC that the effect of the tax cuts has not been taken up by the markets yet speculating a possible increase in share prices over the next 12 months as companies realise greater profits. The Dow Jones Industrial Average DJIA rose 228.46 points or 0.89% to close at 25,803.19. Japan’s Nikkei share average tracked a rise in global equities and advanced on Monday, although the dollar’s weakening against the yen capped gains. The Nikkei ended 61.06 points or 0.26% at 23,714.88. The Australian share market has closed modestly higher after the miners offset weakness from the energy players and a flat performance by the banks. The benchmark S&P/ASX200 index rose 0.12% or 7.00 points to 6,077.1.