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KSi Daily Report: Thursday, 20 April 2017

Thursday’s POMSOX session closed on a quiet note as one stock index gained grounds. The Kina Securities main index KSi advanced 126.41 points or 2.6% to 4,980.11 points while the Kina Securities Home Index was unmoved at 11,060.60 points.

Oil Search Ltd’s (OSH) movement up by K1.25 attributed to the positive cue of the main index, closing high at K19.00.

Financial and banking stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) were both evened out at K9.46 and K1.85 flat respectively.

The day’s trading session recorded a light volume of 9,570 shares worth K21,011.10.

In overnight trading, U.S stocks finished lower as energy shares dragged on the market following a fall in oil prices with the DJIA declining 118.79 points or 0.58% to 20,404.49 points. Japanese stocks rose as the yen’s strong trend pause and the underperformance of mining stocks. Japan’s Nikkei share average shed 1.71 points or 0.01% to end at 18,430.49 points. The Australian stock market advanced after three straight days of losses despite mixed cues overnight from Wall Street and drop in crude oil prices as the S&P/ASX 200 added 21.50 points or 0.37% to 5,825.50 points.

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