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KSi Daily Report: Wednesday, 29 September 2016

The day’s POMSOX trading session was rather quiet as both Kina Securities Stock Indices closed unchanged. The Kina Securities main index was steady at 4,764.69 points while the Kina Securities Home Index, KSHi was maintained at 10,647.82 points.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) were both unmoved, closing flat at K9.00 and K1.85 flat respectively.

Wednesday’s session transacted a total of 3,874 shares valued at K11,220.95.

U.S stocks closed higher as oil prices surged on reports of an OPEC deal that would freeze production. The Dow Jones Industrial Average gained 32 points 0.18% at 18,270 points. Japan’s Nikkei share average rose as investors had a weakening yen and rallying oil prices after OPEC’s surprise deal to trim crude output. The Nikkei stock index closed up 228.31 points or 1.39% at 16.,693.71 points. The Australian share market was on the back of positive news for the energy sector with the S&P/ASX 200 benchmark index was up 51.2 points or 0.95% at 5,463.60 points.

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