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KSi Daily Report: Thursday, 18 May 2017

Both Kina Securities indices closed on a mixed note as stocks headed in opposite direction for Thursday’s POMSoX trading session. The Main index or KSi was up by 1.15 points (-0.02%) at 5,151.14 points while the home index or KSHi finished at 11,101.83 points, declining 4.27 points (0.04%).

Two stocks gained while another fell.

There winners were led by Kina Asset Management Ltd (KAM) that gave a further boost to the by advancing a toea to 97toea followed by Highlands Pacific Ltd (HIG) at 19toea up by 2 toea.

On the downside, The sole listed pharmaceutical stock, City Pharmacy Ltd (CPL) closed lower 2toea to 97toea. The stock’s negative movement weighed on the home index.

BSP Unsecured Notes (BSPHA) was also traded today closing at K26,000.00 down by K1,737.00.

In off-shore markets, The Dow Jones Industrial Average slumped 372.82 points or 1.75% to 20,606.93 points as turmoil in Washington cast doubt on President Donald Trump’s pro-growth agenda that had helped to drive stocks to records. The Japanese Nikkei share average dropped 261.02 points or 1.32% to 19,553.86 points, shares tumbled for a second session in a sign investors may finally be shedding their complacency in regards to the potential fallout from the rolling controversies surrounding US president Donald Trump. Likewise, Australian Shares slump for a second straight day extending the ASX’s losses to $38.6 billion as gathering controversy around the US presidency threatens to derail the global bull market. The S&P/ASX 200 index shed 47.70 points, or 0.82% to 5,738.30 points after dipping below 5,700 points.

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