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KSi Daily Report: Tuesday, 05 July 2016

For a second consecutive session, both Kina Securities Stock indices were maintained on Wednesday’s POMSOX trading session. The Kina Securities main index or KSi was steady at 4,627.05 points and similarly the Kina Securities Home Index KSHi was unmoved at 9,668.45 points.

Credit Corporation Ltd (CCP) and Oil Search Ltd (OSH) were the only stocks traded unmoved today. Both stocks evened out at K1.68 and K17.00 flat respectively.

The day’s trades transacted a total of 4,241 shares at a monetary value of K27,086.84.

In overseas news, the US markets were closed in commemoration of Independence Day. Japan’s Nikkei share average ended a six-day winning streak in thin trade on Tuesday after a stronger yen triggered profit taking, while bank shares underperformed on fears of counterparty risk following a fall in European bank stocks. The Nikkei dropped 106.47 points or 0.67% to 15,669.33 points. The Australian share market continued to trade lower as investors waited for more information on the federal election outcome. The benchmark S&P/ASX 200 index was down 48.8 points or 0.92% to 5,233 points at the close.

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