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KSi Daily Report: Wednesday, 22 April 2015

POMSoX stocks were modestly active for Wednesday’s session with the Kina Securities main index, the KSi, remained steady at 3,810.52 points at the close. Likewise, the home index or the KSHi was also unchanged at 9,751.90 points.

All five stocks that transacted remained flat.

Bank South Pacific Ltd (BSP) led the unchanged at K7.40, followed by another financial stock, Credit Corporation Ltd (CCP) which completed at flat K2.55. Oil Search Ltd (OSH) ended the day at K16.00 amid falling ASX prices. Newcrest Mining Ltd (NCM) and City Pharmacy Ltd (CPL) closed at K30.00 and K1.45 respectively.

Wednesday’s total trades registered a combined volume of 6,429 shares valued at K31,804.70.

In markets abroad, U.S. stocks closed mostly lower during overnight session with the S&P 500 and Dow industrial Indices unable to extend the previous session’s gains. The Dow Jones Industrial Average losing 84.94 points or 0.5%, to settle at 17,949.72, with nearly two-thirds of its 30 components ending lower. Meanwhile, Japanese shares rose to fresh 15-year highs on Wednesday as foreign investors snatched up financials and other large cap shares, deemed to be undervalued. The Nikkei share average rose 224.81 points or 1.13% to 20,1333.90 points by close of market, its highest level since April 2000. In Australia, shares closed lower following figures showing inflation is at its weakest annual pace in almost three years. At the close on Wednesday, the benchmark S&P/ASX200 index was 34.8 points, or 0.59% lower at 5,837.50 points.

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