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KSi Daily Report: Thursday, 12 December 2013

Both Kina Securities Indices recouped their losses after stocks recovered on POMSOX Thursday. The Main Index or KSi was up by 2.96 points (0.08%) at 3,873.55points at the close likewise, the home index or KSHi added 36.16 points back up at 8,213.61 points.

The day’s trading session recorded two gain versus nil losses.

Credit Corporation Ltd (CCP) had regained 10 toea at K2.60 supported by the ongoing share buyback plan following on was oil Search Ltd (OSH) the oil and gas stock collected a toea to complete strong at K17.51.

Unmoved stocks were Bank South Pacific Ltd (BSP) & Marengo Mining Ltd (MMC) at K7.99 and 18 toea.

Thursday’s POMSoX session registered a combined volume of 16,253 shares valued K47,296.67.

In U.S. markets, stocks dropped on overnight, suffering their worst losses in more than a month, as investors digested the Washington budget deal that could give the Federal Reserve another reason to scale back its bond-buying program soon. Likewise, Japan’s Nikkei share average dropped 173.82 points (-1.4%) 15,341.82 points, to a one-week low on Thursday morning, led by selling in futures and big-cap stocks as the mood was soured by renewed anxiety of an early reduction in U.S. stimulus. The Australian stock market closed weaker for the sixth straight day today after local unemployment edged higher and a reduction in United States monetary policy next week became more likely. The close of market today, the benchmark S&P/ASX200 index fell 41.70 points (-0.82%) to 5,062.50 points.

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