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KSi Daily Report: Thursday, 17 August 2017

Thursday’s POMSOX session edged lower as both stock indices declined attributed by movement of a major home-listed stock. The Kina Securities main index KSi was down 0.33 points or 0.01% ending at 4,982.78 and similarly the Kina Securities Home Index KSHi closed at 10,991.90 points, lower by 9.85 points or 0.09%.

Bank South Pacific Ltd (BSP) slipped by a toea lower to close at K9.54.

Meanwhile energy stock Oil Search Ltd (OSH) was the only other stock unchanged at K17.00.

The day’s trading recorded a total of 6,381 units were registered valued at K64,127.15.

U.S stocks closed moderately higher after Feds minutes were released with gains in the materials sector outweighing losses in the energy sector, restoring the Dow above the 22,000 mark. The DJIA gained 25.88 points or 0.12% to finish at 22,024.87 points. Japan’s Nikkei share average felt the weight of a rebounding yen and edged down, ending the session down 26.65 points or 0.14% at 19,702.63 points. The Australian stock market edged higher in choppy trade as gains by mining stocks were offset by weakness in banks and oil stocks as investors digested local corporate earnings results. S&P/ASX 200 benchmark index added 7.60 points or 0.2% to 5,792.70 points.

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