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KSi Daily Report: Thursday, 3 October 2013

POMSOX trading sessions were moderately active on Thursday and both Kina Securities stock indices were down caused by a bank stock. The main index, the KSi, fell 1.23 points to 3,918.55 points while the Kina Securities Home Index or the KSHi held at 8,211.26, down 21.30 points.

One stock fell while three others stocks that traded were unchanged at close of market.

Bank South Pacific (BSP) lost 4 Toea to close at K8.00 despite the company’s recent report of this year’s first half profit more than K200 million.

Pharmaceutical company City Pharmacy (CPL) led other trades closing at a strong at K1.90 Another leading financial institution Credit Corp Ltd (CCP) stood at K2.60. Kina Petroleum Limited (KPL) the junior exploration company closed at 90 toea.

Total volume registered on POMSoX today was 15,480 units at a Kina value of K50,260.48.

In the U.S market, stocks weakened overnight as the Dow Jones Industrial Average dropped 58.56 points or -0.39% ending at 15,133.10 points as markets looks forwards to another showdown in the federal debt ceiling in two weeks. Asian stocks turned higher today following an encouraging reading on non-manufacturing activity on China Services. However, the Nikkei index declined 13.24 points (-0.09%) closing at 14,157.20 points as U.S. government shutdown drags on. The Australian S&P/ASX 200 rose 19.34 points, or 0.37% to 5234.90 points as investors shrugs off US shutdown worries.

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