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KSi Daily Report: Wednesday, 09 March 2016

Wednesday POMSOX trading was quiet as only three stocks traded but stayed unchanged for the session. The Kina Securities Main Index KSI remained at 3,373.05 points while the Kina Securities Home index KSHi ended at 9,120.58 points.

Highlands Pacific Ltd (HIG) led the unchanged at 20 toea flat, followed by Bank South Pacific Ltd (BSP) and City Pharmacy Ltd (CPL) traded unmoved at K7.50 and K1.70 respectively.

A total of 196,265 units valued at K52,231.00 were traded today.

In off-shore news, US stocks ended lower in overnight trading, snapping a five-day winning streak, as plunging crude oil prices weighed on energy shares. The Dow industrials dropped 110.70 points, or 0.7%, to 16,963.42 points with Caterpillar Inc. and Chevron Corp. among the average’s biggest losers. Likewise, Japan’s benchmark Nikkei index fell to a one-week low on Wednesday morning as investors took profits amid yen strength that continued to squeeze exporters, with broader sentiment reduced by slipping oil prices and concerns over China’s economy. The Nikkei share average was 140.95 points or 0.84% lower at 16,521.83 during midmorning trade. However, The Australian share market has finished on a strong note, rebounding from falls in early trade as investors bought into the banks. The benchmark S&P/ASX200 index was up 49.2 points or 0.96% at 5,157.20 points.

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