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KSi daily Report: Tuesday, 30 January 2018

The Kina Securities main market index, the KSi, was stronger today as POMSoX closed for Tuesday’s session after gaining 107.58 points or 1.89% to 5,798.28 points. The Home index (KSHi) however remained unchanged at 10,919.99 points.

Today’s trades saw a volume of 13,366 units traded for a total value of K144,957.70.

Bank South Pacific (BSP) shares traded flat at K9.55 while Oil Search Ltd (OSH) traded on a high at K21.00, gaining K1.00 from previous close.

US stocks have dropped overnight, with the Dow slipping more than 100 points, dragged lower by a slide in Apple shares after a report said iPhone X demand was weakening. Shares of Apple fell as much as 2.6% after the Nikkei reported the company will cut production of its flagship gadget in half. Apples shares last traded at $168.36. The Dow Jones Industrial Average fell 177.23 points or -0.67% to 26,439.48.

The Asian markets also closed on the red as Japan’s Nikkei share average dropped to a one-month low, led by weakness in Apple suppliers, while mining shares underperformed on lower oil prices. The Nikkei ended 1.4% at 23,291.97 points.

In the Australian market, the day’s trading recorded its largest daily fall since mid-November, with the mining, energy and healthcare sectors being the worst performers. The benchmark S&P/ASX200 index was down 52.6 points or 0.87% at 6,022.8 points

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