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KSi Daily Report: Wednesday, 14 September 2016

Wednesday’s POMSOX trading session closed on the red as both Kina Securities stock indices declined amid a moderate session. The Kina Securities main index KSi was down by 2.56 points or 0.05% to 4,810.11 points and likewise the Kina Securities Home Index, KSHi slipped 49.26 points or 0.47% to 10,485.30 points.

Two out of three stocks traded today fell compared to nil gains.

On the downside, leading banking and financial institution Bank South Pacific Ltd (BSP) declined by 5toea to end lower at K8.95. Oil Search Ltd (OSH) shed a toea to close down at K17.50.

Credit Corporation Ltd (CCP) was the only other stock unmoved at K1.68.

The day’s trading session transacted a total of 33,334 shares valued at K334,322.16.

U.S stocks finished lower in overnight trading, wiping out the previous session’s rally amid energy-sector slump with Fed uncertainty. The Dow Jones Industrial Average shed 258.32 points or 1.41% to 18,066.75 points. Japan’s Nikkei share average slipped, dragged down by losses on Wall Street and weaker bank shares amid heightened speculation of BOJ’s negative rate worries. The Nikkei slumped 114.80 points or 0.69% to 16,614.24 points. The Australian share market edged into positive territory for the first time this week, helped by a lift in bank stocks. The benchmark index S&P/ASX 200 was up 19.90 points or 0.38% at 5,227.70 points.

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