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KSi Daily Report: Monday, 22 September 2014

Monday’s trading session was active but both Kina Securities Indices landed on the negative territory. The main index KSi fell 7.71 points or 0.21% to 3,744.00 points, while the Home Index KSHi shed 55.17 points or 0.68% to end at 8,095.18 points at the close.

There were four stocks that lost against one gain only.

The winning stock for the day was junior cap miner Marengo Mining Ltd (MMC) ending at 9 toea, adding a toea.

On the downside, leading financial stock Bank South Pacific Ltd (BSP) lost 10 toea to close at K7.10, followed by Oil Search Ltd (OSH) at K19.13, lower by 6 toea. Portfolio management company Kina Asset Management Ltd (KAM) closed a toea lower at K1.07. Retail specialty stock City Pharmacy Ltd (CPL) also fell 1 toea to K1.49.

Stocks traded unchanged were led by Credit Corporation Ltd (CCP) and exploration stock Highlands Pacific Ltd (HIG) at K2.60 and 15 toea. The agricultural New Britain Palm Oil Ltd (NBO) registered trade at K17.50 even.

In overseas stocks, U.S stocks rose in overnight trading, with Chinese e-commerce Alibaba jumped almost 38% on her Friday trading debut in New York. The Dow Jones Industrial Average added 13.75 points or 0.08% to 17,279.74 points. Japan’s Nikkei slipped as investors booked gains in heavyweight Softbank, holding the Topix firmer. The Nikkei share average lost 115 points or 0.71% at 16,206 points. Australian share market also closed lower following a mixed result on Wall Street. The benchmark S&P/ASX 200 decline70.10 points or 1.29% to 5,362.96 points today.

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