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KSi Daily Report: Thursday, 27 August 2015

Thursday’s POMSOX trading session was moderate as both Kina Securities Indices suffered slight losses as one stock that traded fell after close after the public holiday. The Main Index KSi shed 0.03 points to 3,456.19 points. Likewise, the Kina Securities Home Index KSHi declined 0.98 points (0.01%) to 9,653.23 points.

The retreat was caused by portfolio management stock Kina Asset Management Ltd (KAM), gave up a toea to close at 99toea.

Other stocks traded however remained unchanged were financials Credit Corporation Ltd (CCP) and Bank South Pacific Ltd (BSP) at K2.45 and K7.40 respectively. Followed by mining stocks Oil Search Ltd (OSH) and Marengo Mining Ltd (MMC) ending at K14.80 and 2toea flat respectively.

On an additional note, Bank South Pacific Ltd announced Interim dividend payment of 22.5toea per ordinary share payable on 23 October 2015. The ex-dividend on the 5th October and the record date on the 9th October 2015.

A total volume of 78,802 units of shares traded with a value of K306,058.10 recorded.

Wall Street rally picked up steam in afternoon trades as the main indexes closed with their biggest gains in nearly four years, breaking a dramatic six-day slide. The Dow Jones Industrial Average enjoyed 619.07 points or 3.95% to 16,285.51 points. Similarly, Japanese shares rose after a strong rebound on Wall Street eased investors’ fear of a prolonged global market rout. Nikkei share average surged 253.58 points or 1.38% to 18,630.41 points. Australian share market continued to shrug off global market volatility as it remained buoyant in intraday trade. S&P/ASX 200 rose 71.12 points or 1.39% to 5,244.50 points today.

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