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KSi Daily Report: Thursday, 14 July 2016

Thursday’s close on POMSoX was flat with thin volume. Both Kina Securities Stock indices stayed unchanged for a second straight session. The main index, the KSi, was stable at 4,630.16 points while the Kina Securities Home index or the KSHi held at 9,766.95 points even.

Bank South Pacific Limited (BSP) was the only traded stock today, closing unchanged at K8.20 with a total 1,483 shares at a value of K12,160.60.

In US markets, The Dow Jones Industrial Average turned in another day of record closing highs in overnight trading. The Dow industrials rose 24.45 points, or 0.1%, to close at 18,372.12, for its second record closing high in as many days led by 1.2% rise in UnitedHealth Group Inc. UNH, +1.16%. Japan’s Nikkei share average rose for a fourth straight day to a more than one-month high on Thursday, after the yen’s weakness lifted risk sentiment. The Nikkei ended 24.45 points higher or 0.13% higher to 16,385.89 points. The Australian share market has followed the upward trend closing higher for a sixth straight session as investors see better value in the equity market than in bonds. The big banks led the market higher as investors took profits from resources stocks following their recent good run upwards. At close of market Thursday, the benchmark S&P/ASX 200 index was up 23.1 points, or 0.43% at 5, 411.60 points.

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