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KSi Daily Report: Tuesday, 25 October 2016

Tuesday’s trading session was flat as both stock indices were unchanged amid an active POMSOX session. The Kina Securities main index KSi was steady at 4,763.46 points as the Kina Securities Home Index KSHi was maintained at 10,619.79 points.

Credit Corporation Ltd (CCP) led the unchanged at K1.90 followed by Bank South Pacific Ltd (BSP) at K8.96. Pharmaceutical retail stock City Pharmacy Ltd (CPL) was also unmoved at K1.14 at the close.

Today’s trading transacted a total of 36,429 shares worth K73,299.02.

U.S stocks finished higher with all three of the main benchmarks closing at two week highs to a spate of merger announcements. The Dow Jones Industrial Average finished 77.18 points, or 0.4% higher at 18,222.89 points. Japanese stocks rose to a six-month high as a weaker yen lifted hopes that exporters’ earnings will recover. The benchmark Nikkei share average rose 18.00 points or 0.26% to 17,371.17 points. The Australian market surged shortly after open, following a strong lead from the US market and rising iron ore prices overnight. Local stocks traded well above the flat line with the big banks leading the charge. The benchmark index S&P/ASX 200 added 34.30 points or 0.63% to 5,442.80 points.

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