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KSi Daily Report: Thursday, 09 June 2016

Both Kina Securities Indices recouped their losses after a key bank stock rose on POMSoX Thursday. The Main Index or KSi was up by 7.77 points (0.17%) at 4,484.99 points at the close similarly the home index or KSHi collected 246.26 points or 2.64% to complete at 9,579.23 points.

One stock gained compared to nil losses.

The indices advances were mainly attributed to the strong performance of a key home bank stock, Bank South Pacific Limited (BSP) which gained an impressive 25toea to end at K8.00

Meanwhile, Credit Corporation Ltd (CCP) closed K1.69 unchanged.

Thursday’s trading recorded a combined volume of 22,782 shares valued at K168,071.12.

In off-shore news, The Dow Jones Industrial Average rose for a third straight session in overnight trading to close above the 18,000 point mark for the first time in over a month as oil rallied to an 11-month high. The Dow Jones Industrial Average added 66.77 points, or 0.4%, to close at 18,005.05 points. Japan’s Nikkei share average fell on Thursday as a strong yen soured the mood and dragged down large-cap shares. Some small-cap stocks, seen as safe-haven assets for investors cautious before big macro events next week, attracted buyers. The Nikkei shed 162.51 points or 0.97% to 16,699.33 points. The Australian share market has given up its modest early gains as weakness among the big banks offset gains in energy and mining shares. The benchmark S&P/ASX 200 index was down a mere 1.60 points, or 0.25% at 5,368.40 points

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