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KSi Daily Report: Thursday, 09 March 2017

The stock indices headed in opposite directions amid an active trading session on Thursday. The Kina Securities main index KSi shed 32.68 points or 0.67% to 4,831.72 points while the Kina Securities Home Index advanced 246.26 points or 2.30% to close at 10,970.60 points.

Bank South Pacific Ltd (BSP) closed positively, gaining 25toea to end at K9.30.

On the downside, dual-listed energy stock Oil Search Ltd (OSH) slipped by 40toea closing at a low of K17.55.

Newcrest Mining Ltd (NCM) was the only other stock traded unchanged at K46.00.

A total of 26,494 shares were transacted valued at K465,352.15.

The Dow closed lower for a third consecutive session as oil prices dropped and a stronger-than-expected report private sector employment helped raise expectations for an interest rate hike. DJIA declined 69.03 points or 0.3% to 20,855.73 points. Japanese stocks rose benefitting from a weaker yen after the dollar gained when U.S jobs data strengthened expectations the Fed will be raising interest rates next week. The Nikkei share average rose 64.55 points or 0.34% to 19,318.58 points. The Australian stock market pared initial losses and was modestly lower due to lower commodity prices. S&P/ASX 200 benchmark index was fell 5.90 points or 0.10% to 5,753.80 points.

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