KSi Daily Report: Tuesday, 17 May 2016

Tuesday’s trading session was active on POMSOX today as both Kina Securities stock indices remained unchanged. The Kina Securities main index closed flat at 4,306.72 points and similarly the Kina Securities Home Index, KSHi was steady at 9,052.98 points.

There were only two stocks that were traded today. Bank South Pacific Ltd (BSP) and Oil Search Ltd (OSH) both evened out at K7.50 and K17.00 flat respectively.

The day’s trading transacted 11,968 shares valued at K2,852,567.00.

U.S stocks closed higher in overnight trading, rebounding after three straight weeks of declines, as a surge in oil prices and a rally in tech stocks overshadowed weaker-than-expected manufacturing data from the New York region. The Dow Jones Industrial Average advanced 1.00% or 175.39 points to 17,710.71 points. Japanese stocks rose after investor appetite were increased by a strong performance on Wall Street, higher oil prices and a weaker yen. The Nikkei Share average climbed 186.40 points or 1.13% to 16,652.80 points. The Australian share market continued to gain ground, led by energy and resource companies, Woodside Petroleum, Rio Tinto and BHP Billiton. The benchmark index S&P/ASX 200 was up 36.93 points or 0.69% to 5,395.88 points.

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