KSi Daily Report: Tuesday, 11 August 2015

Kina Securities indices closed on a mixed note as stocks headed in opposite direction amid active POMSoX trading session on Tuesday. The Main index KSi rose, up 20.65 points (+0.60%) to 3,481.60 points while the home index KSHi went down at 9,710.16 points, off 0.97 points (-0.01%).

Two stocks gained while another stock fell.

Oil Search Ltd (OSH), the oil and gas stock, recovered 20toea to close back up at K15.00 followed by Kina Securities Ltd (KS) ended at K2.90, up 3 toea.

On the downside, the portfolio management company Kina Securities Ltd (KSL) gave away 1 toea at 99 toea. The stock’s negative movement weighed on the home index.

Stocks traded however remained unchanged were Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K7.40 and K2.50 respectively.

Tuesday’s session registered a combined volume of 68,900 units valued at K199,302.12.

U.S. stocks closed near intraday highs in overnight trading, buoyed by remarks from one Federal Reserve suggesting a September interest-rate hike may not be conclusive, as well as from a bounce-back in Chinese equities. The Dow Jones Industrial Average closed up 241.79 points, or 1.4%, at 17, 615.17. In Asia, Japan’s Nikkei Share Average edged down on Tuesday, as investors took profits after the Chinese central bank devalued the yuan. The Nikkei Average dipped 87.94 or 0.42% to 20,720.75 points at close. The Australian shares closed lower, with the banking sector down ahead of the biggest bank’s, the Commonwealth, full year results on Wednesday. By close of market today, benchmark S&P/ASX200 index was 29.30 points, or 0.53% lower at 5,479.90 points.

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