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KSi Daily Report: Wednesday, 28 January 2015

Both Kina Securities stock indices were unchanged for a third consecutive session on POMSoX Wednesday. The main index or KSi was unmoved at 3,585.30 points likewise, the home index was at 9,459.23 points flat at the close.

Three stocks traded during the session however all remained steady.

Kina Petroleum Ltd (KPL) led the unchanged, at 75 toea flat followed closely by the financials, Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) completing flat at K7.14 and K2.60 respectively.

Wednesday’s trading recorded a total of 2,392 shares with a value of K74,582.50.

In Off-shore markets, U.S. stocks recorded their biggest decline in three weeks after an overnight session, following a surprise drop in durable-goods orders and disappointing earnings from Microsoft Corp. and Caterpillar Inc. The Dow Jones Industrial Average dropped as much as 380 points, but closed down 291.49 points or 1.7%, at 17,387.21 points by close of market. However, Japanese stocks rose to a fresh one-month high on Wednesday as expectations of strong corporate earnings and a weaker yen boosted investor sentiment. The Nikkei benchmark gained 27.43 points or 0.15% to close at 17,795.73 points. Similarly, The Australian share market fought its way back into the black, racking up a fifth day of gains, as banks extend their recent rally, while the Aussie jumps on higher than expected core inflation. The benchmark S&P/ASX 200 rose just 5.6 points or 0.1%, to 5,552.80 points.

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