Both Kina Securities stock indices fell on Wednesday as key Banking stock moved lower on POMSoX. The main index, or the KSi declined a mere 0.94 points (-0.03%) at 3,354.36 points, likewise the Kina Securities Home index, the KSHi also closed lower by 29.55 points (-0.32%) to 9,297.07 points.
Only one stock declined with no winner for today’s POMSoX session
Bank South Pacific Ltd (BSP) was on the losing end when the stock gave away 3 toea to finish at K7.45.
Meanwhile, Oil Search Ltd (OSH) traded unchanged at K14.06 flat amid world oil prices sliding below $30.00 a barrel again.
The day’s trading recorded a total of 9,794 shares valued at K75,186.26.
In US markets, Wall Street stocks ended sharply lower in overnight trading as investors unloaded energy and financial stocks amid a selloff in crude-oil futures. The Dow Jones Industrial Average skidded 295.64 points, or 1.8%, to 16,153.54 points. Japanese shares tumbled on Wednesday, as crude oil futures extended their recent decline and a stronger yen undermined shares of exporters. The Nikkei stock index slumped 559.43 points or 3.15% in morning trade, pulling further away from a three-week high touched on Monday. Llikewise, A Heightened investor fear about global growth have caused the sharpest daily fall on the Australian share market in four months, with energy companies and banks the hardest hit. By close of market Wednesday, the benchmark S&P/ASX 200 index was down 116.5 points, or 2.33% at 4,876.80 points.