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KSi Daily Report: Tuesday, 19 August 2014

Kina Securities main index KSi closed in red, giving away 9.72 points or 0.26% at 3,753.01 points caused by two stocks that ended lower for the day. Meanwhile the home stocks index KSHi, which measures the performance of all home-listed stocks, slumped 138.41 points, or 1.64% to end low at 8,295.69 points.

Two stocks lost with no gainers today accompanied by a debit stock.

The stocks that contributed to the negative result in the indices were Bank South Pacific Ltd (BSP) which lost 26 toea to end at K7.19, despite the company’s ongoing share buyback plan and Oil Search Ltd (OSH) at K19.13 down by 2 toea following declines in ASX.

Meanwhile, BSP Unsecured Notes (BSPHA) recorded a few trade but remained at K25,000.00 flat.

Tuesday’s trading session recorded a total volume of 3,051 shares valued at K481,538.37
In markets abroad, U.S. stocks finished with strong gains in overnight trading amid a better-than-expected reading on the housing market. The Dow Jones Industrial Average jumped 175.83 points, or 1.1%, to finish at 16,838.74 points achieving its largest point gain since early August. Likewise, Japan’s Nikkei share average hit a two-week high on Tuesday as robust U.S. housing data coupled with a weaker yen. The Nikkei rose for a seventh straight day, rising 127.19 points or 0.83% to 15,449.79 points. The Australian share market followed the upward trend with the benchmark S&P/ASX200 index higher by 36.70 points, or 0.66% at 5,623.80 points in expectations of a good result from global miner BHP Billiton heightened sentiment.

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