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KSi Daily Report: Wednesday, 27 April 2016

POMSOX was quiet for Wednesday’s session as it ended with both Kina Securities indices unchanged. The main index, the KSi remained at 3,955.36 points while the Kina Securities Home Index ended at 9,112.94 points.

All four stocks traded today closed flat.

Financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) evened out at K7.50 and K2.30 respectively. Followed closely by dual-listed mining stocks Newcrest Mining Ltd (NCM) and Oil Search Ltd (OSH) both closed at K35.00 and K15.01.

The day’s trading recorded a light volume of 6,563 shares valued at K36,179.10.

In offshore markets, U.S stocks closed mixed as caution prevailed ahead of tech earnings and updated policy statement from the Feds. The Dow Jones Industrial Average gained 13.08 points or 0.07% to 17,990.32 points. Japanese stocks fell as Apple-related stocks wilt and disappointing earnings with uncertainty whether BOJ will deliver on expectations of further stimulus this week. The Nikkei share average fell 50.55 points or 0.29% to 17,302.73 points. The Australian share market eased higher helped by positive close on Wall Street and gains in oil and commodities prices. The benchmark index S&P/ASX 200 was down 32.94 points or 0.63% to 5,187.70 points.

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