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KSi Daily Report: Wednesday, 12 August 2015

POMSOX trading today was moderate despite disappointing showings from bourses across the globe weighing on sentiment. Kina Securities main index, the KSi, declined by 1.24 points (-0.04%) to 3,480.36 while the Home Index KSHi remained at 9,710.16 points.

One among the five stocks that traded today lost to compared none that gained.

Kina Securities Ltd (KSL) was the only stock that slipped, off 10 toea at K2.80. The dual- listed bank holding company retreated by 3.5 cents to $1.25, with trading volume about 700,000 units exchanged hands on the ASX.

Stocks traded however remained flat were led by the leading oil and gas stock, also dual-listed on ASX, Oil Search Ltd (OSH), which closed flat at K15.00 despite the continued global decline in oil and gold prices, weighing on the commodities. Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ended unchanged at K7.40 and K2.50 respectively. Newcrest Mining Ltd (NCM) also traded even at K25.00.

Wednesday’s trading session recorded a combined volume of 24,540 units valued at K139,552.80.

In U.S, the devaluation of Renminbi by PBOC weighed on the Dow Indices, as the Industrial Average shed 212.33 points or 1.21% to 17,402.84 points. The Nikkei 225 fell hitting its lowest level in more than a week. Closing at 20,392.77, the Average tumbled 327.98 or 1.58% for Japanese shares. Likewise, the Australian stocks declined amid lower Yuan and commodity prices. The benchmark index S&P/ASX 200 dropped 80.23 points or 1.47% to 5,393.00 points today.

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