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KSi daily Report: Monday, 29 January 2018

POMSOX’s trading session was quiet again today. The main index KSi, remained at 5,690.70 while the Home index, the KSHi closed the day unmoved at 10,919.99 points.

Dual listed bank, Kina Security limited (KSL) was the only stock traded today recording a thin volume of 48,800 units at a value of K117,120.00. The share price remained unchanged.

In news overseas, the latest round of strong earnings reports, including technology stocks, ensured the market closed higher on Friday. Intel’s shares surged higher to $US50.08 after results indicated that the chipmaker’s shift to a higher margin data-centre business was working. The earnings enabled investors to shrug off a reading on economic growth that came in below expectations. The Dow Jones Industrial Average rose 223.92 points or 0.85% to 26,616.71.

In Asia, Japan’s Nikkei share average fell -14.72 points or -0.06% to 23,619.08 triggered by higher tech stocks being dragged down by consumer staples. Meanwhile, the Australian market closed higher after a strong lead from US stocks and with more investors looking to the share market as a potentially better alternative to property. The benchmark S&P/ASX200 index was up 25.4 points or 0.42% at 6,075.4 as it resumed trading after the long weekend.

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