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KSi Daily Report: Thursday, 18 January 2018

Thursday’s trading session closed flat as both stock indices evened out during thin trading. The Kina Securities main index KSi was unchanged at 5,501.36 points and similarly the Kina Securities Home index KSHi was steady at 10,919.99 points.

There were trades recorded across the market today however the market remained steady. Credit Corporation Ltd (CCP) closed unchanged at K1.62 followed by Oil Search Ltd (OSH) and Dual-listed mining stock Newcrest Mining Ltd (NCM)
both unmoved at K57.20 and K18.24 respectively.

A slim volume of 3,851 shares was recorded at a monetary value of K14,989.70.

In the markets abroad, Wall Street’s main indexes have all risen more than 1% with the Dow again above the 26,000 mark – as investors’ expectations for higher earnings lift stocks across sectors posted solid gains on Wednesday. Shares in Apple rose 0.6% after making major announcements. Apple expects to add 20,000 jobs through hiring at existing campuses and opening a new one. Apple intends to contribute US$350 billion to the US economy over the next five years. At the close, the Dow Jones Industrial Average DJIA, jumped 322.79 points or 1.3% to 26,115.65. In the Asian market, Japan’s Nikkei share average ended lower on Thursday, pulling back from a new 26-year high as investors turned cautious, while real estate stocks and financial firms underperformed. The Nikkei dropped at 104.97 points or 0.44% to 23,763.37. In the meantime, Australian shares has closed slightly lower, with banks and consumer stocks among the few sectors to record gains as energy and mining stock weakness weighed on the market. The benchmark S&P/ASX200 index was down 1.2 points or 0.02% to 6,014.6.

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