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KSi Daily Report: Wednesday, 03 August 2016

POMSOX trading session closed on a positive note amid a moderate session. The Kina Securities main index KSi was up 1.32 points or 0.03% at 4,649.23 points. Also, the Kina Securities Home Index KSHi gained 9.85 points or 0.10% to 9,824.56 points.

There were two stocks that gained compared to none that lost.

Bank South Pacific Ltd (BSP) completed a toea higher to end at K8.28 followed closely by Oil Search Ltd (OSH) at K17.16, adding a toea.

Credit Corporation Ltd (CCP) was maintained at K1.66 flat. Kina Securities Ltd (KSL) was also steady at K2.51, on ASX at $1.08, up 6c.

Wednesday’s trading registered a light volume of 7,910 shares at a value of K105,280.26.

U.S stocks bounced off session lows but still closed lower, marking the seventh straight daily loss for Dow Industrials and ending a five-day win streak for Nasdaq as investors sifted through quarterly results as well as data on personal income and inflation. The DJIA fell 32 points or 0.18% at 18,216 points. The Nikkei share average extended losses as the yen pushed higher against a backdrop of disappointment with Japan’s latest fiscal and monetary stimulus measures. The Nikkei was down 320.47 points or 1.96% to 16,070.98 points, plumbing its lowest intraday level since July 12. The Australian stock market was notably lower following weak cues from Wall Street and lower crude oil prices. Banks among the leading losers following RBA interest rate cut yesterday. Benchmark index S&P/ASX 200 declined 54.90 points or 0.99% to 5,485.60 points.

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