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KSi Daily Report: Thursday, 16 January 2014

Both Kina Securities indices were stable on Thursday despite moderate trading on POMSoX. The main index, the KSi, remained at 3,872.39 points while the Kina Securities Home index, the KSHi, added 36.15 points or 0.44% at 8,217.11 points at the close.

Stocks traded during today’s session were all unmoved.

Credit Corporation Ltd (CCP) recovered 10toea to close at K2.60.

Bank South Pacific Ltd (BSP) traded at K7.99, followed by City Pharmacy Ltd (CPL) registering a few trades at K1.96. Oil Search Ltd (OSH) hold at K17.52 and Kina Asset Management Ltd (KAM) also recorded a few trades at K1.10 even. Finally New Britain Palm Oil Ltd (NBO) was flat at K15.00.

Today’s session recorded a total volume of 19,004 shares at a value of K67,081.03.

In New York, The Dow Jones Industrial Average added 108.08 points, or 0.7%, climbing to 16,481.94, after receiving an opening boost from the World Bank hiking its 2014 global GDP growth forecast to 3.2% from 3.0%. Investors took upbeat manufacturing data, Bank of America Corp. earnings, and Apple Inc.’s China deal as signs economic growth was on solid ground. However, Japan’s Nikkei average edged down 61.53 points or 0.39% on Thursday on profit-taking as investors wanted to see more U.S. economic data before chasing the market higher. Meanwhile, The Australian sharemarket surged 1% higher on the back of a falling Australian dollar. By close of market today, the benchmark S&P/ASX200 index was up 63.70 points at 5,309.10 points.

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