KSi Daily Report: Wednesday, 05 October 2016

Wednesday’s POMSOX trading session saw both Kina Securities Stock Indices ending lower. The Kina Securities main index, KSi fell 1.02 points or 0.02% at 4,764.47 points. Likewise, the Kina Securities Home Index or KSHi slumped 103.32 points or 0.97% at 10,537.83 points.

One stock fell compared to another that gained.

Junior cap explorer Highlands Pacific Ltd (HIG) was the winning stock for the day, adding 2toea to end at 18toea.

Bank South Pacific Ltd (BSP) shed 10toea, closing lower at K8.95 after announcing ex-dividend today.

Meanwhile, mining and energy stocks Newcrest Mining Ltd (NCM) and Oil Search Ltd (OSH) evened out at K46.00 and K17.01 respectively. Kina Securities Ltd was unchanged at K2.70, also paid out interim dividend of 9toea yesterday.

The day’s trading session recorded a total of 13,072 shares valued at K31,966.56.

In overseas news, U.S stocks finished down following a report that the ECB could end its quantitative easing efforts sooner than planned. The Dow Jones Industrial Average fell 85.40 points or 0.5% to close at 18,168.45 points. Japan’s Nikkei share average rose to a 3 ½ week closing high on a weaker yen as the benchmark Nikkei gained 83.59 points or 0.50% at 16,819.24 points. The Australian share market ended lower as concerns about the global economy and gold prices weigh on investors. The benchmark S&P/ASX index was down 25.8 points or 0.47% at 5,458.2 points.

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