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KSi Daily Report: Tuesday, 10 January 2017

POMSoX was quiet on Tuesday, having registered a few trades only amid stable performance. The Kina Securities main index, the KSi, was unchanged at 4,5810.20 points. Meanwhile, the Home index, the KSHi, was also flat at 10,628.45 points.

There were three stocks traded today without any change to their closing prices; Bank South Pacific Ltd (BSP) remained at K9.000, followed by Newcrest Mining Ltd (NCM) ended at K46.00 even. Meanwhile, Credit Corpoartion Ltd (CCP) finished at K1.88 flat.

Today’s trading recorded a light volume of 6,830 shares at a value of K34,780.90.

In off-shore news, US Stocks closed in negative territory in overnight trading as investors looked ahead to the start of corporate earnings season. The Dow Jones Industrial Average retreated 76.42 points, or 0.3%, to 19,887.38 points. Japan’s Nikkei share average was little changed on Tuesday, trimming earlier losses amid hopes that U.S. President-elect Donald Trump would provide stimulus-supportive hints at an upcoming news conference. The Nikkei initially slipped 152.59 points or 0.79% at 19,301.44 points on a combination of sagging Wall Street shares, a stronger yen and slumping crude oil prices. Likewise, Australian shares suffered a significant reversal of fortune today, with the ASX 200 index dropping 46.70 points, or 0.8% to 5,761.70, mostly reversing Monday’s solid gains. Banks led a broad ASX sell-off, ending a five-day winning streak as the mood among investors turns markedly bearish, with iron ore and gold miners the exceptions.

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