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KSi Daily Report: Tuesday, 27 October 2015

Both Kina Securities stock indices remained steady for the fifth consecutive session after POMSoX trading closed on Tuesday. The main index or the KSi remained at 3,494.84 points and the home index stood at 9,663.10 points at the close.

Financial holding companies Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) were the two only stocks traded at K7.44 and K2.60 respectively unchanged with a combined trading volume of 33,894 units valued at K95,588.64.

Standard & Poor’s revised BSP’s long-term issuer credit rating outlook to negative from stable in yesterday’s credit review. The report says it is due to increasing risks stemming from increasing credit pressures on both the
sovereign and broader operating environment as a result of lower global energy prices.

Kina Securities Ltd (KSL) was not traded and remained at K2.50. In ASX, the stock closed at $1.18, down 0.5c.

U.S. stocks ended the overnight session mostly lower as renewed weakness in energy shares weighed on Wall Street. The Dow Jones Industrial Average fell 23.65 points, or 0.1%, to 17,623.05 points with most of its 30 components finishing lower. Japan’s Nikkei share average edged down in choppy trade at 18,777.04 points, falling 170.08 points (0.90%) on Tuesday as investors stayed on the sidelines before key events this week. In Australia, the S&P/ASX200 index was almost flat, down 1.8 points, or 0.03% at 5,346.20 points, with caution ahead the release of economic data and several central bank meetings.

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