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KSi Daily Report: Monday, 24 October 2016

The week’s trading session opened on a negative note as both Kina Securities Stock Indices declined. The Kina Securities main index KSi was fell 50.40 points or 1.05% to 4,763.46 points and similarly the Kina Securities Home Index KSHi shed 29.16 points or 0.27% to 10,619.79 points.

Two stocks fell compared to nil gains.

On the downside, Bank South Pacific was lower by a toea ending at K8.96. Oil Search Ltd (OSH) also closed lower, down by 50toea to end at K17.50.

Other stocks however traded unchanged were Credit Corporation Ltd (CCP) and Highlands Pacific Ltd (HIG) at K1.90 and 18toea flat respectively. Followed closely by Newcrest Mining Ltd (NCM) at K45.00.

Today’s trading session registered a substantial volume of 126,145 shares valued at K91,952.42.

U.S stocks finished near break-even, but ended well off their lows of the session as the day’s trading was driven by corporate earnings and sentiment. The Dow Jones Industrial Average fell 16.64 points or 0.09% to 18,145.71 points. Japanese stocks edged up in thin trading after investors bought drug makers on hopes for strong mid-year earnings , offsetting weakness which languished on profit-taking. The Nikkei gained 49.83 points or 0.29% to 17,234.42 points. The Australian stock market extended losses from the previous session, following the flat cues from Wall Street. The benchmark S&P/ASX 200 index was down 41.80 points or 0.77% to 5,388.50 points.

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