KSi Daily Report: Monday, 24 August 2015

On Monday POMSOX stocks were weaker as some of the Asian bourses saw worst stocks tumbling in recent years. Both Kina securities Indices closed negatively. The Main Index KSi was 1.26 points or 0.04% lower at 3,375.54 points while the Home Index KSHi shed 5.66 points or 0.06% to 9,659.04 points.

Three stocks were traded with two retreats against none that gained.

Stocks that were sold down were a supermarket cum pharmaceutical stock, City Pharmacy Ltd (CPL). At K1.35, the stock fell by 4toea. Kina Securities Ltd (KSL) also closed lower, down 10toea at K2.60.

Bank South Pacific Ltd (BSP) was the only stock traded unchanged at K7.40.

The day’s trading recorded a total volume of 123,198 shares valued at K349,994.90.

U.S stocks tumbled sharply last Friday after the worst week for stocks in four years. The Dow Jones Industrial Average slipped 530.94 points or 3.12% to 16,459.75 points on global weaknesses in share trading . Japanese stocks fell to a 5-12 month low on Monday on a broad sell-off triggered by China growth fears, where Shanghai stocks fell more than 8% today. The Nikkei share average sliced 845.92 points or 4.35% to 18,589.91 points. Likewise, the Australian stocks closed sharply lower amid a late hour broad sell-off, tracking weak global cues and the fall in oil prices and China’s slowing economy. The S&P/ASX 200 declined 196.70 points or 3.77% to 5,017.90 points today.

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