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KSi Daily Report: Thursday, 24 March 2016

Both Kina Securities Stock indices closed in negative territory amid a quiet trading session ahead of the long Easter weekend. The main index declined a mere 0.31 points or 0.01% at 4,033.78 points, still above the 4,000 points benchmark. Likewise, the home index fell 9.85 points or 0.11% at 9,097.41 points at close.

One stock fell with no other movements.

The decline in the indices was caused by Bank South Pacific Ltd (BSP) which fell a toea lower at K7.49.

Meanwhile, City Pharmacy Ltd (CPL) closed unchanged at K1.29.

Thursday’s session registered a total of 6,155 shares valued K36,490.95.

U.S. stocks finished lower in overnight trading as U.S.-traded crude-oil futures dived 4%, their biggest percentage-point drop since Feb. 23, weighing on energy and materials shares. The Dow industrials dropped 78.75 points, or 0.5%, to 17,503.68 points. Likewise, Most Asian stock markets closed lower Tuesday amid weaker oil and commodities prices. In Aisa, Japan shares slipped Thursday after the U.S. dollar strengthened against regional currencies with Japan’s Nikkei Stock Average was down by 59.08 points or 0.35% at 16,937.99 points at close of market. Likewise, The Australian market remains cautiously lower as it reacts to the Brussels bomb attacks and a fresh drop in commodities prices. The benchmark S&P/ASX200 index was down 56.7 points, or 1.1% at 5,089.60 points after banking, energy and mining sectors continued declines from the market open, with the big four banks leading the drop.

POMSOX will be CLOSED tomorrow (March 25) and Monday (March 28) for Easter. Kina Securities Ltd wishes you all a Happy and Safe Easter weekend.

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