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KSi Daily Report: Tuesday, 09 February 2016

Both Kina Securities stock indices gained grounds to close high amid quiet trading on POMSOX trading Tuesday. The main index KSi rose 1.99 points or 0.06% to 3,431.15 likewise the Home index KSHi advanced 62.92 points or 0.68% to 9,359.99 points.

Two stocks gained with no other movements today.

The leading financial stock Bank South Pacific Ltd (BSP) recouped 5toea at K7.50 followed by another financial holding company Kina Asset Management Ltd (KAM) at 99 toea after collecting 14toea.

Tuesday’s session recorded a total volume of 16,304 shares valued at K22,208.28.

In markets abroad, U.S. stocks came off session lows in the final trading hour but still finished Monday with sharp losses. Financials were hit the hardest amid worries of widening credit default swaps spreads, while lower oil prices hit energy and materials shares. The Dow Jones Industrial Average dropped 177.92 points, or 1.1%, to 16,027.05 points by close of market. Japan’s Nikkei share average tumbled 177.92 points or 1.10% at 16,027.05 points on Tuesday with banks taking the brunt of the sell-off, while a stronger yen dragged down stocks across the board. The Australian share market followed the downward trend recording its worst day in more than four months as renewed concerns about global economic growth spooked investors, driving the benchmark index nearly three per cent lower. The S&P/ASX200 index was down by 143.3 points, or 2.88% lower at 4,832.10 points after today’s trading session.

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